The February 8 Report

The index managed to stay afloat at 3,241.13 or +17 points or half a percentage point (0.56%) gain.

Volume remained Motorola RZR thin, with only 852,094,262, with value only at 1,191,067,00.

Total trades were at 5,917, with one new 52 week low - ORE at 2.34.

Aboitiz owned companies had a jumpstart due to their declaration of two cash dividends for Aboitiz Equity Ventures (AEV), and a share buyback program for not only this said company but other Aboitiz owned companies like Aboitiz Power (AP) & Union Bank (UBP).

This was the second day of the basura stocks, with the following stocks hogging the ticker space:

PEP
BRN (well fine, technically this isn't a basura stock)
GEO
NI
EIBA/B
SINO
TUNA

I'll stop here.

But that wasn't the surprise of the day. This is the surprise:



What the... no trade for TEL????

Now you can tell me this is one helluva bear market.

The one thing that's good, (and maybe bad as well), is that we managed to keep the index afloat with DOMESTIC buyers. The problem is there might be less and less of institutional investors. This creates the problem of a speculative market and this makes for even more difficult trading.
Remember, keep your gains tight and throw greed out the window.

Stocks to look at for the following week are the above mentioned stocks as well as the following:

PA - notice that there's always a big seller posted
BPC - bullish divergence between price and RSI chart
MUSX - same as PA's case

Good luck and have a pleasant weekend!

I hope the US market manages to close higher, if not, flat wouldn't be that bad either. The series of rate cuts and the tax stimulus package in the US will likely push inflation higher in the latter half of the year. They got the shot in the arm alright, but I think they used the wrong medicine. Stay safe.