Philippine Stock Market Commentary

Philippine Stock Market Commentary

For the fourth time, the PSEi is attempting another crack at the 3,130 resistance level after Monday’s correction.  A bullish pattern has appeared with a promise of a 340-point PSEi upside.  Indicators, however, are at mid to high levels making a sustainable rally questionable at this point.  The Holy Week break coming on Thursday and Friday next week may give the PSEi the needed correction and momentum to break 3,130 convincingly.  HOLD for a better buying window.

Net Foreign Selling:

PHP76 mn as of March 18, 2010

Net Foreign Buying:

PHP117 mn as of March 19, 2010

Net Foreign Selling:

PHP9 mn as of March 22, 2010

PHP341 mn as of March 23, 2010

Pymwymi Fund Performance

A.  Traded During the Year

The Pymwymi Fund is up 2.8% in 2010.  Total funds available for reinvesting is PHP1,029,575.  This includes excess cash not bought into the respective board lots of our stock picks.  We shall reinvest the total amount in our next Buying Opportunity.

B.  Long Term Buy and Hold

The Pymwymi fund is up 8.5%, while the PSEi is up 4.1% from the start of 2010.  The Pymwymi Fund’s performance has outpaced the PSEi considerably in March.