Philippine Stock Market Commentary

Philippine Stock Market Commentary as of March 8, 2010

The PSEi is set to test the 3,100 level, while the DJIA has a small bullish pattern (commencing January 22, 2010 to March 5, 2010) and is set to test the 11,000 level this week.  Though foreign buying is strong today, we decide on a HOLD from any renewed buying as the PSEi will face an immediate triple-top at 3,130.  There is also less upside seen as indicators are above mid-levels.  Our decision is to preserve previous gains and wait for a better Buying Window with bigger upside.  HOLD.

Net Foreign Selling:

PHP59 mn on March 4, 2010

Net Foreign Buying:

PHP96 mn on March 5, 2010

PHP464 mn on March 8, 2010

Pymwymi Fund Performance

The Pymwymi Fund is up 2.8% for 2010.  We shall reinvest the total Pymwymi Fund in our next Buying Opportunity.