Market still in vacation mode
After a long holiday, it is really very hard to pull yourself up and get back to work. This is called vacation blues. Though the market is up, the volume unmistakably tells us that a lot of investors are still not back in action.
JGS corrected today, probably triggered by its announcement to delay the much awaited Cebu Pacific IPO. I agree with this move since there is really a lot of uncertainties with the upcoming automated elections.
Property giant Megaworld (MEG) also closed significantly lower today, but watch out if it holds at 1.20. Holding at this support level would establish a higher low, and would reinforce an uptrend line. Breaking below this level would otherwise consolidate a sideways pattern or even resume a downtrend.
US futures are up, and hopefully will translate to a positive close by tomorrow morning (betting on DOW 11,000?). Hopefully also, the local market will follow suit and break its vacation blues.
JGS corrected today, probably triggered by its announcement to delay the much awaited Cebu Pacific IPO. I agree with this move since there is really a lot of uncertainties with the upcoming automated elections.
Property giant Megaworld (MEG) also closed significantly lower today, but watch out if it holds at 1.20. Holding at this support level would establish a higher low, and would reinforce an uptrend line. Breaking below this level would otherwise consolidate a sideways pattern or even resume a downtrend.
US futures are up, and hopefully will translate to a positive close by tomorrow morning (betting on DOW 11,000?). Hopefully also, the local market will follow suit and break its vacation blues.
posted by credit card at
8:12 PM
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