Day trading notes

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DJIA +200 pts

Sold all of BDO at 53
Sold all of MER at 83.5 and some odd lots at 83

PSEi testing resistance at 3299, possible break of resistance

MER higher high and higher low, among most active
WEB higher high and higher low, among most active, possible huge volume
BDO testing support at 52.5

News from citiseconline:

1. The Philippine economy grew 7.4% in 4Q07, at the upper end of the government’s forecast of 6.7% to 7.8% growth for the said period. This brought full year GDP growth to 7.3%, also at the upper range of the government’s target of 6.9% to 7.3%. The full year figure also beat the 7.0% figure forecast in a Reuters poll. The government said it is maintaining its 2008 growth target of 6.3% to 7.0% despite the
expected slowdown in the United States.

2. The BSP cuts its overnight borrowing rate by 25bps to 5%. The BSP also decided to keep the wider availability of special deposit accounts, with rates aligned with the overnight rate.

www.citiseconline.com
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