The November 6, 2007 Report

STOCK

The 6th of November, it's a gloomy Tuesday what with the weather. I can say the same for the local market. We were at one point up by about 16 points if I was not mistaken, and we closed almost flat. This is superb considering that we are slaves to the Dow's performance. (The Dow closed down 51 points to settle at 13,543).

However, if you track the Asian performance today, we are actually the rebel. Major indexes were up today, albeit slightly (Japan, Hong Kong, Singapore). Yesterday, we were also the rebel, the rest of Asia was bleeding while we closed up. This could change later, I can't find a solid news site at this point. I checked on Bloomberg though and most Asian marts were up. I'm writing at noontime as I'll be doing something else later.

PSEi closed at 3,773.63, down by -1.18 or -0.0313% vs yesterday. This is due to, well surprise surprise, AC. It closed at 630, down -2.33% vs yesterday. The rise in TEL, to 3,030, or +1.85% is offset the losses of AC a bit. As I've said, TEL is such a big weight that it can turn the index up (or down).

Watch out for PLDT's investor briefing today. I hope their earnings come out strong as this will be a leading indicator for the index. Globe will follow suit tomorrow.

Let's monitor our Week's pick, details are: closing price, +/-% vs previous day's, top 2 buyers. I've added comments

ZIP 3.00 / -7.69% / ATR SB Equity (There were probably a lot of people shaken out of here. It was strong early trading at 3.35, with buying support of 5M postings at 3.30 and 3.25, Then all of a sudden heavy selling by DAMarket and DWCapital killed a lot of traders.)
OV 0.03/Flat / Asiasec SB Equity (4 for 1 share overhang. Usually prices will drift lower. But let's see what will happen to oil prices tonight on US Trading. Long term, oil prices will still go up.)
PA 0.22/ Flat / BPI Ansaldo (The close was forced at 0.22, only one buyer at this price at the close so I prefer to look at the close as 0.215)
TBGI 3.10/ Flat / Abacus BPI (Thank you JONA for your comment. I'm not privy to the details of TBGI but right now, there's still buying although you'd expect that after a disclosure, it should be going up, not flat or down)
FGEN 60.50 / +0.83%/ Deutsche Valuequest (Block cross sale by JPMorgan at 57.00)
AT 15.75/Flat/Abacus Goldstar (Getting impatient with this)
APO 2.36/-0.84%/Goldstar Kings (follows AT)

* On a sidenote, I don't have all of the above shares. I'm still waiting for the right time to enter into some of the above.

I was able to daytrade AJO. So yay!

Try to look at DIZ. There's still support at 9.90.

STUCK

Atlas Mining. Nuff said.

SUCK

PEP. Gapped up today only to close at yesterday's closing price.
Based on my estimates, there is still NFS (Net Foreign Selling).

See you tomorrow on another exciting trading day!