Gus Cosio says so

Ideas on the Philippine Stock Market

Having a hoilday

9:45am  Thursday 24 September 209

I’m on holiday today due to personal errands I have to run although I still try to keep an eye on the markets.  Yesterday’s Philippine Stock Exchange trades were dominated by TEL and MER which was something I said was bound to happen just because TEL had become too cheap; and MER was adjusting to higher valuation due to its strategic franchise in Mega Manila and on account of scarcity of shares.

I looked at the global markets overnight and everyone is down except the Nikkei so I would not be surprised if we see our market down as punters of TEL and MER take their round of profits.  I would suggest some paring of positions at this point particularly if there are profits.  I did mention earlier that markets are inclined to consolidate the March to September 2009 rally; there may be no better time than now.

September 24, 2009 - Posted by | Uncategorized

1 Comment »

  1. I’ve been on a holiday too, and when I came back, my SPH was back to where it was before the rally.. lol, oh no!

    Comment by wren | September 25, 2009 | Reply

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