Philippine Stock Market Commentary

Philippine Stock Market Commentary as of March 3, 2010

Despite renewed volume from the past week, the Phisix appears to have topped up and losing momentum since yesterday after attempts to break the 3,100 level.  Since our SELL call last Thursday, February 25, 2010, the Phisix still went up on Friday and Monday giving investors opportune time to lock on gains as we did earlier.  Today’s net foreign selling is also the biggest we have seen so far since tracking this data.  The DJIA, on the other hand, appears to be hounded by indecisiveness to go up further.  Indicators also signal correction time for the DJIA.  As of this time, our projected Buying Window is in the 2,900 level.  We shall call a BUY when it appears.

Net Foreign Selling:

PHP87 mn as of February 26, 2010

Net Foreign Buying:

PHP112 mn as of March 1, 2010

PHP102 mn as of March 2, 2010

Net Foreign Selling:

PHP423 mn as of March 3, 2010

Pymwymi Fund Performance:

The Pymwymi Fund is up 2.8% for 2010.  It will be reinvested in our next BUY call.