And all the boys and girls and cats and dogs and all the kings’ horses and all the kings’ men have joined the fray…
I’m referring to the Philippine markets in general, but more specifically to the favorite stock of the entire tsupitero crowd—-(drumroll please), the indefatigable LC (A and B).
Almost every stock in the Philippine markets are welcoming the Dragon Year 2012 a happy new year at least for its first official trading day with the rest of the region. January 3, 2012 sees the overall region back from the holidays.
It’s a happy trading day , at least for a day for the entire Asian and European region. (US markets have yet to open)
Hang Seng Index advanced 2.2 percent and South Korea’s Kospi Index jumped 2.7 percent. Philippines closed today at 4422, up half of a percent.
So let’s talk about these horses shall we?
I chose to start my buying and selling net transactions count from Dec. 16, 2011- Jan 3, 2012 because this represents the quiet period of consolidation after the LC chart broke down from 1.65-1.68 last December 15, 2011 leaving all the previous monentum buyers “ipit” with their higher prices. Notice that our “not so secret” bargain hunting buyers in this quiet region are Papa, Macquarie, Saranggani, BPI, Abacus, Bennett, First Metro, F_Yap etc. LC has been bought at an average cost of 1.58-1.60 levels. The Sellers were dominated by brokers from Wealth, ATR, CLSA, Asiasec and COL though this is merely a snapshot from a very short time frame. (One can see that on a longer time frame, some of the brokers in this selling department are actually net long in the stock).
*Please read my previous article – entitled “LC -Broken Momentum Stock- Inconclusive” that accompanies this speculative investigation.
For the same period, now checking on the LC(B) shares, we have a “secret” buyer such as UBS , Macquarie, Ansaldo, Deutsche, Mandarin buying during the quiet period. Their averages were 1.78-1.81, while the same sellers remain (Wealth, CLSA, ATR) etc.
It is very interesting at least on my part that UBS was able to buy 58Mil shares of LCB at an average of 1.8028 especially since LCB was trading at a measly volume the past couple of days. Quiet buyer. 🙂
Okay, that’s about it. To see the beautiful chart patterns not merely by these two exceptional momentum stocks (LC,LCB), let’s give some credit to all the rest of the stocks in the market such as GLO,TEL,DGTL and banks such as SECB,MBT,BDO that’s really helped revive our Philippine markets to welcome the new year with a real bang. Well, AC,DMC and so many others have been flying along with the favorite NI,WIN,PHES,AAA,CMT,HLCM,TA,OV. Traders seem to be having a lot of choices. Even MWC came to the party. 🙂
Expansion of Range = Exacerbating a market move = Tipping the hand
Continuation or follow through must be accompanied with todays’ bullishness for a more “lasting” intermediate move up.
Enjoy while it lasts,