23 September 2011

PSEi 3,885.96. -210.14 points. -5.13%.

Following the abrupt price decline in metals prices, mining declined faster than most stocks today:

  • SCC – 175 Pesos, -12.32%
  • LC – 1.16 Peso, -10.08%
  • PX – 20.90 Pesos, -10.87%
  • AT – 15.90 Pesos, -10.57%
  • ORE – 3.74 Pesos, -9.88%
  • MA – 0.051 Peso, -12.07%
  • DIZ – 9.45 Pesos, -13.14%
Another observation, today’s total trading was very heavy, totaling 8.2-billion Pesos.

On August 5, 2011, I sold all my holdings of local equities as mentioned in my August 8 blog entry. Since then, I’ve held an all cash position, frequently mentioning this in my blog posts (I hope I didn’t bore you). Even after this week’s huge declines, I still think Cash is King.

Hopefully, many of you followed my lead and preserved your portfolio gains. I will dispense with my customary weekend sign-off, as I have many friends whose portfolios are in pain. On the other hand, I know you fundamental investors are licking your chops at the opportunities unfolding!

Take care, everyone. There will be better days ahead.

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