November 27 Report

Market Commentary

Today's still a commentary in my books because the PSEi was down by only -13 points (-0.37%) at 3,524. This, a day after a triple digit loss of the DOW yet again. I knew it, looking at the performance of the DOW near the open is useless. I said last night that the DOW was still up by 38 points as of my press time.

I'm updating this blog 12:25AM already. I'm not updating my blog at this time by choice. It's just that I've been quite busy as of late, what with 4 days gone last week without Internet. As of now the DOW is up triple digits, by 162 points. All three indexes - DOW, Nasdaq and S&P are up a percentage point.

Foreign Houses:
DEU +13M
CLSA -47M
MACQ +23M
JPM +49M
UBS +3M (KJ!)
ABN -5M
DBP +217M (Due to a huge block sale of FGEN at 9.73) Probably the government deal?

So from the looks of it, we have another day of net foreign buying here folks! Their volume though, is anything but exciting.

STOCK

Our pick yesterday on APX? Jackpot! LC? Same, I had some scare but I was able to day trade it today.

Gold retreated today, and so did oil, so tomorrow is an opportunity to buy gold related stocks. Gold and oil are long term bullish if I am to believe the news.

EDC is also a no-brainer. At a price of almost 9 apiece, you're buying the company at a bargain of 6.9 or 7. Do you think that the Lopezes would sell the shares lower than their bid price? I think not! In any case, this is a stock for long term players, not for trader junkies (like me).

OV. I know OV is one of those one fluc stocks, but if the Galoc project pans out next year? I don't think you'll be able to get the shares of OV at its current price. Again, this is a similar stock for long term players.

FGEN. Another long term play. Yeah, expensive deal, but this is EDC. One of the premier oil companies in the local market. Did I hear oil? Oh, and did I tell you that oil is one of those commodities that are going to run out of supply before our generation dies? Ever heard of the law of supply and demand? Oil is your long term bet (and so are base metals and gold).

Surprises - PA. From Suck to Surprise. Let's see if this is another stock.

Still strong - GEO.

From henceforth, I will subdivide STOCK into trader stock and investor stock. If you are a trader, you don't want a stock that goes up 5% per WEEK. You want the one that does that in a DAY.

You have to be quick to the draw and not be greedy. Take the profits and think that, in all the hell that is the market, you are still making money.

Put in your radar: SMC/B. Start of the return to recovery?

STUCK

So far, I have to see if there is a stock that's stuck in a range.

SUCK

Still PLDT and its brand of unreliable service. Even SMART is no better. Ever gone to their business centers? I'll give props to GLOBE for offering better service. The problem with GLOBE is that I think they're more expensive. (Somebody correct me if I'm wrong).