Market Skim Through, September 2: Locals took profit, volume returned to ghost-month low

There was obvious profit-taking by locals on stocks that jumped +10% last Friday and Thursday. AGI, GTCAP, dipped deep in the morning before going green in the afternoon. These stocks, including SM, could have profit-taking again in the morning. If youre still holding, it's up to you how much you believe in the stock for the next two weeks, and against the volatility of the market.

Stocks like ICT and RLC were never bought up after profit-taking (unlike AGI, which have 100 M PhP of foreign-buying at closing), so they remained red throughout the day. I'll choose to stay on the sidelines on these index stocks, although ICT should be interesting if it goes 88 again. It has 'relatively' consistent foreign support this year. 

We're negative 0.22% at the end of the day, but some are calling it 'virtually unchanged' primarily because our volume returned to a ghost-month average 5 B PhP (we're more than double this amount the past 4 days). Is it range-trading time once again, or will fengshui-following fund managers really wake-up buying left and right by end of Ghost Month on September 4? 

	Stock Code	Last	Change	%Change	Value
1	IS	0.0400	-0.0050	-11.11%	24,100
2	CA	45.0000	-5.0000	-10.00%	10,350
3	PXP	11.0600	-0.9400	-7.83%	892,078
4	PHA	0.2700	-0.0200	-6.90%	5,400
5	SINO	0.2800	-0.0200	-6.67%	20,100
6	BCB	8.0000	-0.5000	-5.88%	251,460
7	STR	3.6400	-0.2100	-5.45%	36,350
8	OPM	0.0180	-0.0010	-5.26%	1,647,000
9	ICT	90.0000	-5.0000	-5.26%	86,145,904
10	WPI	0.3800	-0.0200	-5.00%	14,600
11	UBP	117.0000	-6.0000	-4.88%	49,551
12	OPMB	0.0200	-0.0010	-4.76%	1,656,000
13	ICTV	0.4000	-0.0200	-4.76%	106,650
14	MJC	2.1000	-0.1000	-4.55%	430,500
15	SHNG	3.1500	-0.1300	-3.96%	116,050
16	APX	2.9300	-0.1200	-3.93%	263,700
17	RLC	20.0000	-0.8000	-3.85%	28,363,545
18	LCB	0.5600	-0.0200	-3.45%	536,750
19	ANI	5.5000	-0.1900	-3.34%	38,605
20	ELI	0.9300	-0.0300	-3.12%	736,23