PSEi Decoupled... in a Negative Manner

My internet conked out yesterday hence the missed blog. Anyway, yesterday was a boring market over all with the index closing virtually flat. Today was an exciting day but in a negative light. The PSEi struggled to hold the gains and closing 20 points lower. Local investors ignored the 100 point rally of the DOW overnight, the 11% china 1st quarter growth, and a slew of generally positive earnings. What's the reason? Failure of election worries? The news on bombings and acts of terrorism? Whatever the reason, I believe investors found an excuse (a measly one, I suppose) to lock in their gains. And I see this pullback as a chance to buy-in in quality, value stocks.

Whatever happens overnight on wall street, I believe that tomorrow's local market will not be pressured to the downside. We might even see a decent rally tomorrow if the dow will not end as bad tonight.