Technical Insider

Day trading notes Sold all of DGTL at 1.62 (small volume and long holiday coming up, preserve little gain/cut loss; will get back to DGTL if manages to break possible resistance at 1.66) Sold some MER at 80.5 (got some of this at 79, got out in the mean time due to long holiday) BSP cut interest rates DJIA managed to form white candle. MER higher high ABA/B higher high, among top gainers, among most active DIZ among top losers SPH among top losers BDO higher high PSE volume thin: only 2.8B pesos - possibly everyone in vacation/holiday mode Ringing up Digitel Cocktales by Victor C. Agustin http://www.manilastandardtoday.com/?page=business5_dec21_2007 "SPECULATIVE interest in Digitel stock is bubbling again. From only 7.86 million traded on Friday (at a closing price of P1.41), over 29.34 million Digitel shares changed hands yesterday, closing at P1.60, a 13.47 percent gain in just four trading days. According to the grapevine, the cash-flush Government of Singapore Investment Cor...

DJIA = 13,245.64 ( 0.29% ) DJIA formed a white candle with higher low and lower high. Volume decreased. DJIA continues to form higher lows which might indicate some upward momentum. A white candle from DJIA wouldn't hurt the upward pressure felt by the PSEi, if not contribute to the upward pressure. Things seem to be looking up for out local market. Good luck to all traders!

Philippine Central Bank (Bangko Sentral ng Pilipinas = BSP)cuts key interest rates Looks like a bullish signal for the trading day tom. Good luck to all traders! :) From business.inquirer.net: Philippine c bank cuts key interest rates; eases forex rules By Rocel Felix, Enrico dela Cruz Thomson Financial "MANILA, Philippines -- (UPDATE 2) The Philippine central bank, the Bangko Sentral ng Pilipinas, decided on Thursday to lower its policy interest rates by 25 basis points for the third time in as many months. It also announced another set of measures to ease foreign exchange regulations." "Policymakers approved a reduction in the overnight interest rates to 5.25 percent for borrowing or the reverse repurchase facility, and to 7.25 percent for lending or for the repurchase facility." - http://business.inquirer.net/money/topstories/view_article.php?article_id=108037

DGTL = 1.6 ( 2.6% ) DGTL formed a white candle with higher high and higher low. Huge volume = 29.3M. Previous huge volume of 33.5M was registered last 26Feb2007. DGTL continues rally or uptrend. DGTL might test recent high of 1.66, personally and in my humble opinion, DGTL might be able to surpass said high. Next resistance might be felt at 1.72, I do hope this might be tested tommorrow. It is a concern though that DGTL might be moving towards the overbought position as seen in the RSI, but since DGTL is trending RSI is not a reliable indicator. MACD continues to signal a buy long. Good luck to all DGTL traders!

PSEi = 3491.96 ( 0.70% ) PSEi formed a white candle with higher low and lower high. Volume decreased. PSEi seems to be continuing to rally / trend up. Failure to achieve higher high and increase volume leaves uncertainty to current uptrend or rally. Careful traders... From business.inquirer.net: Shares close firmer as investors pick bargains By Enrico dela Cruz of Thomson Financial "MANILA, Philippines -- Shares closed firmer Thursday as investors chased bargains after a four-day selldown, with the rebound led by market heavyweight Philippine Long Distance Telephone Co. and a few other blue chips." "Volume was thin, reflecting prevailing caution following Wall Street's lackluster performance overnight and ahead of the Philippine central bank's decision on interest rates later in the day." "Four of six institutions polled by Thomson Financial are expecting the Philippine central bank to keep key interest rates on hold at its last meeting for the year. ...

Day trading notes US markets mixed. PSEi trying to rally from previous correction or downtrend. PSEi currently in the green :) I hope this continues :) GEO lower low DIZ lower low DGTL higher high, among top gainers SPH lower low, among most active GMAP lower low SM lower low FPH higher high, small volume PERC higher high

Notes at the Open US markets mixed. PSEi trying to rally from previous correction or downtrend. PSEi currently in the green :) I hope this continues :) GEO lower low DIZ lower low

FLI = 1.3 (0.0%) FLI formed a black candle with higher low and higher high. Volume decreased. FLI looks to retrace previous downtrend. FLI need to have an unhealthy retracement of the previous downtrend in order to have upward pressure on price action. An unhealthy retracement would be more than 61.8%. Good luck to all FLI traders! The Filinvest Group of Companies is setting aside P22 B for the continued expansion of its real estate, banking and sugar milling units and its possible entry into the biethanol business as it seeks to further boost profit. In an interview following the 25th listing anniversary of Filinvest Development Corp. (FDC) yesterday, company president Josephine Gotianun-Yap said P16 B of the total programmed capital budget will be spent by FDC while the remaining P6 B will go to property arm Filinvest Land Inc. (FLI). She said funding will come from internally-generated cash and debt. Yap added that the company's planned follow-on offering of shares may take plac...

MBT = 53 ( 1.0% ) MBT formed a black candle with higher high and higher low. Volume decreased. MBT likely to be retracing recent correction or downtrend. For the retracement to be unhealthy MBT must retrace more than 61.8%. An unhealthy retracement of the correction or downtrend will put upward pressure on the price action of MBT. Good luck to all MBT traders! Metropolitan Bank and Trust Company (Metrobank) said it has not missed its responsibility to pay taxes and will pursue legal remedies to contravene a court order to settle its unpaid taxes. In a statement, Atty. Antonio Viray, Metrobank's assistant corporate secretary, said the bank has filed a motion for reconsideration with the Court of Tax Appeals. "In any event, we are ready to avail [ourselves] of other legal remedies, including going to the Supreme Court, to finally resolve this industry issue," Viray said. Viray said Metrobank has remitted P64.4 B in national and municipal taxes in the last three years. He ...

DJIA = 13,207.27 ( -0.19% ) DJIA formed a black candle with higher low and lower high. Volume decreased. DJIA appears to be starting to gain upward momentum as evidenced by the formation of a higher low. Must continue to post higher lows to make this assumption valid. Good luck to all traders! NEW YORK (MarketWatch) -- U.S. stocks on Wednesday ended mixed after a volatile day that featured mixed signals on the credit crisis, with a potential downgrade of bond insurers dulling a mostly positive auction of funds to banks by the Federal Reserve. http://www.marketwatch.com/News/Story/Story.aspx?column=Market+Snapshot

SPH = 8.4 ( 0.0% ) SPH formed a black candle with higher low and decreased volume. SPH seems to be having a hard time moving above the resistance at 8.4. But the formation of higher low might be an indication that this resistance might be broken in the near future. Good luck to all SPH traders!

MER = 79.5 (1.3%) MER formed a black candle with higher high ang higher low. Volumed decreased. MER seems to be rallying and being supported by an aggressive demand line. I hope MER will again test the recent high or possible resistance at 89.5. Good luck to all MER traders!

GEO = 1.8 (-2.2%) GEO formed a black candle with higher high and higher low but volume decreased. GEO seems to have confirmed formation of a reversal pattern: bullish engulfing. It may have reversed the recent correction or downtrend to either a sideways or uptrend. The bullish engulfing seems to have been confirmed by the formation of higher high and high low but the black candle gives us uncertainty on the recent movement. This uncertainty would be diminished if GEO continues to form higher highs and higher lows. It would also be nice if GEO forms white candles with increasing volume. Good luck to all GEO traders!

PSEi = 3466.28 (-0.10%) PSEi formed a black candle with higher high and higher low. PSEi was able to close previous gap down. PSEi seems to have confirmed the formation of a bullish hammer by achieving both a higher high and higher low, but formation of a black candle is a concern. It would put uncertainty to rest regarding rally or uptrend if PSEi manages to form higher high and higher low on the following trading day with a white candle and significant increase in volume. Good luck to all traders!

DJIA = 13,232.47 (+0.50%) DJIA formed a doji with lower high and lower low. DJIA seems to continue correction or downtrend. DJIA still looking for a support level. Good luck to all traders!

Day Trading notes Bought MER at 79 MER, lower low, more than 61.8% retracement, among most active NRCP lower low, almost 50% retracement GMAP lower low SM lower low, testing support of 337.5 GEO lower low TA lower low, tesing support of 1.22 PERC lower low AT lower low and higher high, might be forming bullish engulfing RLC lower low, testing support at 14.5 KPM among most active and among top gainers SPH higher high DGTL breakout! FLI lower low MEG lower low