When the U.S. stock market slides, our will slide. Same old same old. -20 yesterday, around the same today. Not quite what I expected for the week. I thought those bulls were right around the corner. Maybe they're just gathering momentum.
On the bright side, Tsupitero says it doesn't look so glum right now. The numbers never lie and they are no longer pointing downwards. Are they looking up? Maybe. We don't know for sure. I guess its time to place new bets.
If I'm to listen to my gut feel, I say we'll see the index hit 2700 before we have any serious bull runs that will breach last year's highs.
Thursday, April 10, 2008
Wednesday, April 9, 2008
Paxys keeps fighting
PAX is one stock that many would like to forget. It figured in many portfolios during 2007 but performed miserably towards the end of the year. These days, it is languishing at around the price of Php3.00/sh. Twelve months ago it looked ready to hit ten times that price.
Aside from the one-two punch of the falling dollar and the slowing U.S. economy that hit the BPO industry as a whole, PAXYS faced problems of its own. The long and the short is that its revenues failed to hit targets miserably and there was little or nothing to give investors a reason to hang on to its stock.
Just recently though, they announced the formation of a joint venture, implying better business to come. The details are a bit sketchy for me, I have yet to review it to figure out what I think of it. For the meantime, Citisec thinks its positive and is busy changing their Target Price for PAX - presumably for the better.
Aside from the one-two punch of the falling dollar and the slowing U.S. economy that hit the BPO industry as a whole, PAXYS faced problems of its own. The long and the short is that its revenues failed to hit targets miserably and there was little or nothing to give investors a reason to hang on to its stock.
Just recently though, they announced the formation of a joint venture, implying better business to come. The details are a bit sketchy for me, I have yet to review it to figure out what I think of it. For the meantime, Citisec thinks its positive and is busy changing their Target Price for PAX - presumably for the better.
Tuesday, April 8, 2008
sideways today
After the three day weekend, April 3 was a day of sideways movement. The PSEi closed at 2,981.12, which was down by only 1.92 points from the last trading day.
While we saw the bears flexing their muscles late last week, they seemed to be tentative today. At some point I saw the market down by over fifty points but then the next moment it would be up again.
I expected the market to keep heading down towards 2700 or 2500, at which point I was preparing to take a few more positions. However, it seems that the bears are looking like they want to take a summer break. I'm starting to get more excited.
While we saw the bears flexing their muscles late last week, they seemed to be tentative today. At some point I saw the market down by over fifty points but then the next moment it would be up again.
I expected the market to keep heading down towards 2700 or 2500, at which point I was preparing to take a few more positions. However, it seems that the bears are looking like they want to take a summer break. I'm starting to get more excited.
Subscribe to:
Posts (Atom)
