Philippine Stock Market Commentary for January 19, 2010
A double-top has formed though on January 15, 2010 at the 3,100 level causing the second resistance to the rally that ran since late July 2009. The Phisix is now on a correction mode with support and a possible buying window are seen at the bottom 3,000 level.
No buying window has been spotted as of this time, and we recommend a HOLD on any buying.
Pymwymi Fund Performance:
0% up from start of 2010.
Notes on the Philippine Stock Market Commentary
1. The Philippine Stock Market Commentary is based on technical analysis and recommendations are applicable within the date of the call made.
2. The “Pymwymi Fund” is a gauge of Corpecon’s stock market calls in its Philippine Stock Market Commentary. It is composed of Corpecon’s five main stock picks and ten secondary stock picks recommended to long term buy and hold investors detailed in the Philippine Stocks Guide. 50% of the Pymwymi Fund’s weight is allocated equally to the five main stock picks, while the other 50% are allocated equally to the 10 secondary stock picks. These stocks have been evaluated to have high-growth potential and resiliency. Though recommended to long term buy and hold investors, the stock picks are traded accordingly to calls made in the Philippine Stock Commentary in order to gauge its performance.
3. The Philippine Stock Market Commentary is solely for information. It should not be constituted as an offer for solicitation for the purchase or sale of securities mentioned. The information herein has been obtained from sources believed to be reliable. Whilst every effort has been made to ensure accuracy, we do not guarantee the accuracy or completeness of the report. All opinions and estimates expressed herein constitute our judgment as of this date made on a reasonable basis and are subject to change without notice. No liability can be expected for any loss arising from the use of this report or its contents. As this is general information, it does not have regard to the specific investment objectives, financial situation and the particular needs of any specific person who may obtain this report.