Follow the 'smart money', they say.
With foreign money accounting for 50-60% (from 70% in the 80's and 90's ) of volume on the Philippine Stock Exchange, It's hard to deny that wherever they go, so does the market.
Last week, Meralco led decliners in a sideways market; off from highs of Php116 pre-subprime rout to a close of Php79 today. Foreign brokers like Macquarie and JP Morgan dominated selling activity.
While other reports attribute this selling to a new system of billing; this writer opines that with the collective world market holding its breath until a new Fed rate comes out on the September 18, the Philippine bulls will have to follow local leads, which is in this case the September 12 Supreme Court ruling; all with complex consequences to the country.
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6 comments:
Hi Martin. Read your blogs :) Well, since I can't comment on the issues coz you know I'm a bit jaded of stocks, finance and bankings... (and you know you'll have to start explaining everything to me) I decided to put up this site as a link to my Multiply. :) (cherryinashotglass.multiply.com)
Remember that you are always in my heart. Take care. I'll see you in time.
Hey mate.
Nice show you're running here. Thanks for putting in my blog. ;) And may ads pa!
We should go out soon and see some testosterone-laden movie. And eat out in between.
Hey Cha,
Hey why not? if you care to hear it. Jaded huh? :) Thanks for linking, keep in touch
Hey Mike,
Thanks dude, hoping to make it grade-A quality soon. No prob! Keep it up pare
Jaded. Haha, yes I am. Di'ba, sa "bull and bear" pa nga lang naguguluhan na ako. Pero sige, pwede, then let's talk medical after! Sasama ako sa inyo ni Mike, so we can talk about your testosterone levels as well. Hahaha. Hmmm. I know you're busy. :) Istorbo lang ako sayo eh.
Hi Cha,
Not at all! Sounds like fun a...Go ahead and leave footprints when you feel like it
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