Gus Cosio says so

Ideas on the Philippine Stock Market

Gravity

3:00pm   June 15, 2009   PSEi 2614.85

This recent market rally never ceases to amaze me.  When I wrote my earlier post today, the market had been down 31 points.  Surprisingly, it had gone to positive territory shortly after then went up 21 points before closing up 14 points.  My favorites TEL and GLO  carried the day adding   points to the index.  Gravity seems to be pulling the other way or some  other physical force must be at work.

The PHP/$ is trading around 48.20.  Bond yields are higher.  I wonder when market adjustments will hit tome.  At this wrtiting, the Hang Seng and the Nikkei are both down close to one percent.  It looks like we’re following Shanghai who’s up about 1.5% for the day.

Anyway, to each his own.  My advice is to be engaged in the markets no matter what.  That’s the only way to profit from it.  Set your sights on greater things.  I still believe that a lot of local stocks are still undervalued.  Investors just have to have more confidence in them.

http://www.condron.us

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June 15, 2009 - Posted by | Financial markets in Asia

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