November 21 Report

Market Critique

I have been busy the past two days, hence my absence from posting. I am migrating (no not to another country, although it's starting to be a really good idea), from market commentary to market critique so I can have a place to bash the market, just for fun. There's really nothing good from the market so far.

Let's first critique my prediction about the market. As of Wednesday's close, it's a flop, like Splash Corp. I forgot to read the US chart, which is definitely becoming the barometer of the PSEi. I used to think that the stock market is the barometer of the economy. Given that the Philippines is a (insert adjective here) country, (our politicians have no shame, I doubt even this would change their ways).

I still go by my earlier suggestion that all politicians made to hold shares of stocks, and lock these up for 5 years. They'll know what the @#$ they're doing to this country they're supposed to be running.

The increase of the DOW (51 points, +0.4%) last night failed to spur the local market. We were down 30 points, -0.85%, tracking major Asian averages. Decliners paved the way for uber-bearishness 80 to 24 gainers. You want to know who the top gainers were? Here they are:

LIHC (who?) +49.47%
CSB (huh?) +42.86%
MED (ano?) +42.50%

Our index is now hanging precariously above 3,500. I just checked the chart, looks like we're headed downhill in the short term. So much for November huh? Well we have about less than 2 weeks left until December. December has traditionally been a boom month for stocks. Looks like 2007's won't be the same. There's a study out there supposedly comparing 2007 to 1997 (even to 1987), when, in all these years, the market started to turn bearish. Superstition? Coincidence? We'll know by January.

Foreigners:
UBS +191M
MACQ - 94M
DEU - 99M
CLSA +166M
ABN + 46M
JPM +158M

Hey, looks like we're net foreign buying! Yehey! Thank you guys for averaging down! Now we're definitely sinking in quicksand.

There's really nothing to write about for Stock or Stuck. The market is highly volatile right now, it is difficult to recommend something without having a gun pointed at you after. The name of the game now is SPEED. Get in, get out. Don't be greedy or you'll end up dead.

STOCK

Buy boatloads of Extraderm, SkinWhite.

STUCK

Put these stocks in your house and never use it.

SUCK

Hmmm. The market today. There's a downside when you're viewing the market everyday.
You tend to forget to look at the bigger picture. So my tip is to take a look at the charts, and for novices (like me), have a little chat with an experienced broker, and ask for direction, by direction I mean talking to him or her to try to make sense of this market.