A perusal of the Manila Bulletin today (May 12, 2008) reveals that there is an upbeat market sentiment for this week. Maybe the giant San Miguel Beer bottle on Ayala avenue right in front of the PSE has something to do with it.
After watching the market make a few huge steps down since April, it's nice to hear some bullish sentiments.
Tsupitero thinks any rally below the 3050 level is nothing more than a dead-cat bounce. I can't define what a dead cat bounce is but the name implies enough. We don't want that. Anyhow, I'm still betting on Philippine Stocks for '08 as a whole. Time will tell.
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