The Philippine Stock Exchange took a few nose dives over the past months and spooked many people. I blame it all the doomsdayer's talk about the U.S. economy. Now that all that grim news has been squeezed out, people are welcoming the opinion that the worst is over. Is it? well I haven't really had the chance to find out for myself.
As far as the Philippines is concerned I think that we will follow the U.S. up if they do go up because I subscribe to the assumption that they're the only reason why we went down in the first place. Things here are going way to well for our market to keep plummeting.
A very reputable columnist, Ron Nathan of the inquirer doesn't seem to have made up his mind about it either but had this to say last sunday:
"Well, it's back to work tomorrow. BERNANKE has done everything expected of him. He cut the interbank rate, released $200 billion into the system, cut 75 basis points and gave JP Morgan $30 billion to bail out BEAR BULL. We can only sit back and hope that the price of oil comes down to $80 a barrel so that inflation will not become a serious problem. Some analysts think the worst is over so Wall Street has been rising and most other stock exchanges have played follow the leader. Foreign brokers have slashed their one-year price targets dramatically so my last list is hopelessly out of date."
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