Market Skim Through: September 19's Big Green

Our market gapped up a bewildering +~4% at opening, and settled on a still acceptable +2.81%. There are mysterious big sell-downs in AP and AEV at closing. These two Aboitizes are the only stocks that closed in the red. They should recover tomorrow.

Volume traded was big at 16 B worth. Foreign investors were net buyers at Php 2.53 billion. Only CLSA was remarkable for still coming out a net seller at 600 M +. This broker unloaded unloaded SECB, RCB, MER, EDC, in big chunks. JPMorgan continued to pull-out 100 M + (its daily average of net selling the past few days). Deutsche on the other hand turned out a big net buyer today, a huge turnaround from selling the past week. It must have been prompted by the Fed big time to return to emerging markets. Among its main interests is MEG, which increase a huge +7% as a result.

COLFinancial is a net sellers at 500 M. Many locals obviously took profit early.

And so we are now again at 6500, and the 200-SMA was breached convincingly (blue line below). Index also kissed 100-SMA (red line) at one point. Are we now bullish again on intermediate and long-term? We hope so.

Other observations:

CPG increased big again. The loyalists of this Antonio stock should now be on a profit, even before stockdivs are announced.

BPI closed at 100 but it was indecisive throug throughout the day. All the other banks are also being bought up.

Some still played the bazur TSI, although blue chips are attractive and active throughout the day.

AGI closed at doji (price unchanged) after swinging to positive in the morning and staying in negative for most of the afternoon. Is this because of the uncertainty with Emperador's valuation? If Andrew Tan priced it too high, the follow-on offering can become an embarrassing dud. TSI/EDI supposed to announce the final price yesterday but there's no disclosure.

	Stock Code	Last	Change	%Change	Value
1	VVT	12.0000	3.0000	33.33%	47,850
2	PMPC	6.5000	1.5000	30.00%	7,307,239
3	UPM	0.0120	0.0010	9.09%	2,400
4	NXT	2.1500	0.1600	8.04%	2,150
5	LMG	3.0400	0.2200	7.80%	6,510,630
6	GREEN	0.0140	0.0010	7.69%	4,278,500
7	MEG	3.4700	0.2300	7.10%	687,088,390
8	IMI	3.4000	0.2200	6.92%	1,555,180
9	SOC	1.1000	0.0700	6.80%	1,100
10	BDO	80.0000	5.0000	6.67%	1,075,091,970
11	SPC	4.8000	0.3000	6.67%	19,200
12	CPG	1.6200	0.1000	6.58%	60,043,200
13	SECB	134.6000	8.3000	6.57%	525,217,212
14	LIB	2.2200	0.1300	6.22%	22,420
15	APO	1.9700	0.1100	5.91%	205,410
16	CDC	1.0800	0.0600	5.88%	1,080
17	ALHI	23.5000	1.3000	5.86%	7,050
18	GSMI	21.8500	1.2000	5.81%	53,882,705
19	AT	12.4800	0.6800	5.76%	7,107,012
20	SUN	1.4800	0.0800	5.71%	8,337,440