The January 29 Report

Market Commentary

Decoupling here we come!

My report today will be tainted with sarcasm because instead of making a quick buck, I made a quick loss on a day trade. The market was up initially, until the gains of 40 or so points were withered down to half at just 20 points up. During that time, Asian markets were still going up and up, while we were losing much of our gains.

Let's make a wrap up of Asian markets:

Hong Kong +0.99%
Japan +2.99%
Shanghai +0.87%
Taiwan +1.21%
Kospi +0.66%
Thailand +1.41%
Indonesia +1.00%
Singapore +0.29%

Philippines +0.65%
DOW I don't have the data but they were up by triple digits, so that's close to 1.5%.

Philippines - Decoupling ? Yes!

Today's market was what you may call, whipsaw!

Index : 3,224
Vol: 2,704,731,725
Val: 3,517,115,000
# Trades: 6,967

Foreign Brokerages, in terms of value

JPM +135M
Deutsche +95M
UBS -62M
CLSA +49M
ABN -113M
PEP +62M
MACQ -18M
DBP +18M

From my estimate, there seems to be a net foreign buying here, which is a good thing. If this goes on for a week, then they're probably bottom picking. Or....

Window dressing. This is, after all, the last week of the month.

Stock, Stuck, Suck

I don't know anymore. This is a bear market. Moreover, the swings are difficult to predict, much less ride on.