I looked at how the market did today and I noticed that the PSEi inched up nine points. Looking at the chart of the day, I saw a flat line. It looked like a very lifeless trading day. Surprisingly though, the value of the trades was very near the Five Billion Peso mark.
Last week, we saw a three day rally that was stronger than what we saw through the beginning of this week. I'm guessing that the Psei is sputtering at this point and will tumble towards the end of the week closer to the support at around 2900. I hope I'm wrong about this but my gut feel is that this tiny rally is over.
Todays (January 31, 2008) overall stats at the Philippine Stock Exchange:
Index----------------------Previous-----Current----Change
PSE Composite----------3,256.53-----3,266.00---9.47
All Shares----------------1,977.98-----1,973.96---(4.02)
Financials----------------776.71-------743.77-----(32.94)
Industrial----------------3,928.57-----3,970.94---42.37
Holding Firms-----------1,724.94-----1,713.39---(11.55)
Property------------------1,314.36-----1,314.29---(0.07)
Service--------------------1,732.01-----1,778.20---46.19
Mining and Oil----------7,202.36-----7,092.56---(109.80)
Total Trades 7,853
Total Value 4,890,036,000.00
Total Volume 913,251,714
Up Volume 163,295,240
Down Volume 559,370,850
Unch Volume 190,387,760
Advances 27
Declines 82
Unchanged 51
(citiseconline.com.ph)
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