It's Friday! My expectation of the index to close in red because of profit taking did not come true. My friend KennyV thought that AEV has something to do why the index ended in green today. Hmmm....
Having read his post, I checked out AEV a while ago and it was one of the top gainers for today. 2nd to LIHC, AEV gained 11.11% from yesterday's close of 33.30 to 37 today.
The closest index stocks to AEV in terms of gain were GLO and SMPH having gained 2.27% and 1.96% respectively. On the other hand stocks in the index that were biggest losers were FLI losing 3.67% and MPI losing 3.06%.
I believe some still avoided the market today because there were only 1.24 billion shares traded with a value of 7.35 billion pesos. Were they still waiting for further consolidation? With the market breaching its previous support of 3800, the next support is at around 3620 which I am praying not to be broken again.
Anyway, there were some companies like SMDC and ALI that posted good profits for the year 2010 which I hope would help push their prices. With more companies due to report their 2010 earnings, we will see more bargain hunting on these companies especially those investors and traders believe that had good profits last year.
ALI had a record P5.46B income in 2010 and they will be investing P3-B to develop University Town in UP according to the news. Will these news help this stock finally go up again? ALI ended green today so I guess the news and earnings report helped. Hopefully it will continue next week.
After having a very long week with each day PSEI closing in red, today was a bit more relaxing (at least for me) after having a green FRIDAY. Tomorrow will be the start of the week here in my location and I can sleep until 6 am! Ooopppsss! That's if nobody from the site calls me while I'm asleep... Usually I have to wake up at 4:30 in the morning if I want to watch the market.
Have a nice weekend everyone! Enjoy it with your kapamilya... I'll read some books about investing in stocks later... Thanks a lot to my buddies in Stock Investing Thread aka LIP thread (KFAM forum)!
"He who has a bountiful eye will be blessed..." < romer is ayeckanic, ayeckanic is romer > Ayeckanic™