The February 6 Report

Happy New (Rat) Year! Kung Hei Fat Choi! God knows I'm fat...

Is this the return of my daily stock market journal? Well, it depends if I'm busy or not. So you can take my posting today as I'm not busy.

The index ended at 3,228.84, down 54 points, or 1.67% from yesterday. Let's see our neighbor's performance:

Japan -4.07%
Hong Kong -5.40%
Shanghai -1.56%
Taiwan +2.03%
S. Korea +0.38%
Thailand -2.04%
India -2.81%

As you can see, our market actually fared better, relatively. This, despite looming political uncertainty in the coming weeks. Or, you can take it another way, that the market actually cheered JDV being booted out as the Speaker.

Our market was actually down but the intraday chart of the PSEi was amazing, recovering around the 1030 AM and then settling at 3,228. The market tomorrow should zoom up, and with the DOW going up (as of now anyways), there should be enough catalyst to push the index higher.

If the Gregorian New Year failed to excite investors and traders alike, then hopefully the first day tomorrow of the Lunar calendar year would provide people with a ray of hope.

However, foreign trading activity is quite the shocker, headlined by Deutsche net selling of -462M. What? Are they bailing out of the country or something? That value was enough to gobble up the net buying of other foreign brokers. He's a real killer right? Up there with UBS ang pera mo.

Take a look at the following stocks tomorrow:

EEI - be on guard though, 3rd day of its rise
CMT
MRC

Today was sort of the day of the third liners with TUNA, CMT, MRC, hogging the ticker.

Good luck tomorrow guys. Hopefully, clear signs of decoupling does happen. I have this bad feeling though, that 1st Qtr GDP will fall below expectations. Already, the Customs fell short of their revenue take for the first month of the year. The government has to spend mega bucks sometime between now and March if they want to the GDP numbers to look handsome.