Although total trades were valued at only around Php2.5B, I'm glad to see the overall performance of the PSEi to be in the green. (PSEi +19.21 on April 24, 2008 @ 2,844.02)
The question on everybody's minds must be: Is the market bottoming out?
Technical Analysis probably won't give a definite answer at this point in time. However, my gut feel says the bottoming out is starting. Why? Well, first, the main mover of global markets is still the U.S. stock market. Second, there seems to be a growing concensus that the worst is over for U.S. lending giants. Third, one of the greatest drivers of investor anxiety were the large losses of American Banks. If its over, there will be sighs of relief all around.
While that isn't really air tight logic, neither is the logic of most investors. Given that, most market movement is based on similar thinking. Now, to see if I can scrounge around for more cash and bet on this bottom. :)
Friday, April 25, 2008
Wednesday, April 23, 2008
little happiness over Philippine Stocks
Unexciting year
2008 has proved to be rather unexciting. Everyone is gloomy. Business is slowing down, oil is getting more expensive, and the dollar is falling. A more curious addition to the sad news is that food prices are going up.
Little upward movement
What I find very sad about our market's performance for 2008 is that even when all the good news of growing profits came in, our stocks tracked global markets and didn't really move up.
Foreign Influence
Domestic demand seems to be stable but since foreign buying accounts for about half of the activity in our stock market, there is still an umbilical cord to foreign markets. Generally, the world has been reacting to wall street and wall street's lead has been downard.
Unconventional Wisdom
Still, I remember my favorite quote from Warren Bufett: "Be greedy when everyone is fearful and be fearful when everyone is greedy". Follwoing that I'd still avoid investing in Philippine Real Estate and keep adding positions in Philippine stocks. If I could, I would even purchase U.S. Real Estate at foreclosure sales. :)
2008 has proved to be rather unexciting. Everyone is gloomy. Business is slowing down, oil is getting more expensive, and the dollar is falling. A more curious addition to the sad news is that food prices are going up.
Little upward movement
What I find very sad about our market's performance for 2008 is that even when all the good news of growing profits came in, our stocks tracked global markets and didn't really move up.
Foreign Influence
Domestic demand seems to be stable but since foreign buying accounts for about half of the activity in our stock market, there is still an umbilical cord to foreign markets. Generally, the world has been reacting to wall street and wall street's lead has been downard.
Unconventional Wisdom
Still, I remember my favorite quote from Warren Bufett: "Be greedy when everyone is fearful and be fearful when everyone is greedy". Follwoing that I'd still avoid investing in Philippine Real Estate and keep adding positions in Philippine stocks. If I could, I would even purchase U.S. Real Estate at foreclosure sales. :)
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