Up DJIA +274, anyone excited? Nah. All markets just use the rally to keep on selling and raising cash. Whether it’s a winner or a loser, cash just is king. Crash scenario to be a welcome pull back at 7000s or whenever the foreign selling gets distributed and passed on to more people. We have Php 500M selling today. This will be a recurring day to day reality – perhaps foreign selling everyday until end of year already.
Only Two Stocks Capture Good Buying Interest
#MER and #PCOR
#MER breaks 260 to close at 265 on announcement of possible 0.10/kwh rate increases on November +22/283
#PCOR breaks 12 (no news but accumulation ongoing for many months now) +65/132
Recipe for Pullbacks – Big Cap Conglomerates Must Be Sold and Indeed They Are Top Sold:
The Giants Get Sold
#AC -208/457; #SM -127/202; #TEL -216/871
Andrew Tan Doesn’t Get Sold (interesting, but then again, no one is immune on a broad market drop)
#AGI +43/218; #MEG +30/259
Other Conglomerates Also Sold
Nickel Loses Luster (Sleeping Period)
#NIKL -64/96 (23-B shows CFO Manny Samson selling 2 Mil shares on Sept 30 and Oct 1 from 43.85-46.55)
Retail Sold Down But Bargain Hunting Comes
#PGOLD -44/53 33 price tag holds despite strong foreign selling. Basing period but could consolidate for a long time, unless foreign selling is taken out as well as Robinsons Retail.
#RRHI -11/69 – Shows resilience amidst lesser signs of foreign selling. Bounces from 60 low and closes at 61.40
Gaming Still Strong (Might be on its last leg push, take profits)
#BDO is champ with 99 price tag +76/206
#MBT +7/603 at 86 (Large volumes and some determined buyers now)
#BPI and #SECB both have little volumes in their consolidation stages ( -7/57 and -4.9/38.9 respectively)
Both Consumers Also Get Sold and Other Power Stocks Also Get Sold
#JFC NFS, #URC NFS, #EDC NFS, #FPH NFS.