Lines and Angles
The stock market index ended the week at 4236.98, just a 0.2% decline from an all-time high of 4245.05 on Thursday. This is despite the fact that the market is in the overbought level for a month now. There are major corrections among various stocks these past few weeks but the overall sentiment is in tack. Still, a major correction in the index itself will be a welcome breather to a growing market.
President Aquino boasted of bringing home investments and dollar funds from his recent trip abroad. This and the positive economic activities were the main topic of his 100th-day-in-office speech. Some economists however had a little something to say. The "investments" he brought home and the Millennium Challenge Fund were already in the talks several years back. The stock market and other foreign investments were also a way of foreign investors to divert their attention from the still looming economy of the west. So to own something that's not yours in the first place is something not to be proud of. That's basic. But again, politics is politics. Sometimes they seem to work for the country and at other times they distribute stock options to farmers who doesn't even understand what a stock option is.
Cebu Pacific Air will be going public finally at Php125 per share. It is now open for subscription starting yesterday, Oct 8 (and according to COL will be until Oct 14). The listing date will be on Oct 26th (Oct 25 is a holiday for the barangay elections). Cebu Pacific Air is an airline business of the John Gokongwei-led JG Summit Holdings. JGS in turn is the parent company of such known brands in consumer products (URC), banks (Robinson's Bank), tellecommunications (Sun and DGTL), real estate (RLC), and other industrial products. Yaman ni lolo!
Many of you may have heard of the Globe Asiatique brand of real estate from TV shows such as Pinoy Big Brother and the now defunct Wowowee because they are the one who sponsored the prizes won by the contestants. They are in the center of a senate investigation lately because of the anomalous PAG-IBIG loans amounting to 6.6B pesos to fund their Pampanga housing projects. They even attempted to list the company to the Philippine Stock Exchange last month. Why they didn't list to the PSE directly to tap funds instead of illegally siphoning out funds from PAGIBIG (read: from all the working people in this country) is beyond me. But I should give Mr Delfin Lee, president and chairman of Globe Asiatique, the benefit of the doubt. He may be just a plain businessman doing his job while the dirty elements are working their way behind his back. The senate should divert their magnifying glasses to the PAG-IBIG papers. For whatever reason, you don't readily release 6.6B without doing extra measures to check who, where and how the fund is to be used. Hay naku!
If you have invested in PO on the low of Monday, You might have now gained a whopping 200%+ in just a week.
I don't have any idea what's going on with this stock. I was able to observe the trend last Tuesday but I'm not a fan of momentum trading actually especially if the fundamentals are a bit off. Looking back into the charts one more time, I do see a rounding bottom, both with the price and volume. It may still have a run next week, but the cautious side of me is shouting "NO" aggressively. Thanks, but no thanks.
And now here's my weekly trade.
- Added 20K to my Citisec account.
- Bought GMA7 at 7.55. It went down at 7.35 and went as high as 7.6 before settling at 7.58 on Friday.
- Added position in MEGW1 at 1.35. It closed at 1.39 last Friday.
MEG has now my biggest allocation. FLI is still a non-mover. MAB's still an asshole. GMA7's forming a cup and handle...I think. My original gain as of Friday is 21.42% but this will be diluted by the additional fund.
* Diluted with additional 66% fund
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| PSE's steep climb |
$$$
President Aquino boasted of bringing home investments and dollar funds from his recent trip abroad. This and the positive economic activities were the main topic of his 100th-day-in-office speech. Some economists however had a little something to say. The "investments" he brought home and the Millennium Challenge Fund were already in the talks several years back. The stock market and other foreign investments were also a way of foreign investors to divert their attention from the still looming economy of the west. So to own something that's not yours in the first place is something not to be proud of. That's basic. But again, politics is politics. Sometimes they seem to work for the country and at other times they distribute stock options to farmers who doesn't even understand what a stock option is.
$$$
Cebu Pacific Air will be going public finally at Php125 per share. It is now open for subscription starting yesterday, Oct 8 (and according to COL will be until Oct 14). The listing date will be on Oct 26th (Oct 25 is a holiday for the barangay elections). Cebu Pacific Air is an airline business of the John Gokongwei-led JG Summit Holdings. JGS in turn is the parent company of such known brands in consumer products (URC), banks (Robinson's Bank), tellecommunications (Sun and DGTL), real estate (RLC), and other industrial products. Yaman ni lolo!
 |
| JGS flying high in prep for Cebu Air listing |
$$$
Many of you may have heard of the Globe Asiatique brand of real estate from TV shows such as Pinoy Big Brother and the now defunct Wowowee because they are the one who sponsored the prizes won by the contestants. They are in the center of a senate investigation lately because of the anomalous PAG-IBIG loans amounting to 6.6B pesos to fund their Pampanga housing projects. They even attempted to list the company to the Philippine Stock Exchange last month. Why they didn't list to the PSE directly to tap funds instead of illegally siphoning out funds from PAGIBIG (read: from all the working people in this country) is beyond me. But I should give Mr Delfin Lee, president and chairman of Globe Asiatique, the benefit of the doubt. He may be just a plain businessman doing his job while the dirty elements are working their way behind his back. The senate should divert their magnifying glasses to the PAG-IBIG papers. For whatever reason, you don't readily release 6.6B without doing extra measures to check who, where and how the fund is to be used. Hay naku!
$$$
If you have invested in PO on the low of Monday, You might have now gained a whopping 200%+ in just a week.
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| PO and the white side wall |
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| LC, on the other hand, is forming a hooker's stiletto |
$$$
And now here's my weekly trade.
- Added 20K to my Citisec account.
- Bought GMA7 at 7.55. It went down at 7.35 and went as high as 7.6 before settling at 7.58 on Friday.
- Added position in MEGW1 at 1.35. It closed at 1.39 last Friday.
 |
| My portfolio |
MEG has now my biggest allocation. FLI is still a non-mover. MAB's still an asshole. GMA7's forming a cup and handle...I think. My original gain as of Friday is 21.42% but this will be diluted by the additional fund.
 |
| FLI - sideways |
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| MEG - also tracking the sector movement |
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| GMA7 - Cup and handle (?) |
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| MAB - Cup and handleeee (?) |
Days since First Trade | Portfolio Value Gain | PSEi Gain (Same period) | YTD Gain |
53 | 13.51%* | 21.76% | 13.51% |
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