17 November 2011

PSEi 4,334.66. -6.96 points. -0.16%.

Stock markets were divergent over the past 24 hours. While European and Asian markets were mostly flat, the Dow shed 1.58% to close at 11,905.60. This came amidst fears of European contagion risk causing further deterioration of bank finances in the U.S.


On the local front, ICT, SMC and URC have been rallying lately on news of their inclusion in the MSCI Philippines Index.


Finally, no sooner had Tsupitero.com invoked the name of Lolo than his namesake stocks (LoloCoaster and LoloCoaster B) suddenly nudged higher (+6.98% and +6.34% respectively). Ah the good old days. These two trended up well earlier this year, giving a variety of traders the chance to make good money (Until the time Uncle Gus pulled the plug, of course. What a demonstration of institutional trading power that was!).

SLI, one of the stocks on the radar lately at Spyfrat’s Call, was up 8.11% and 10th top traded. Was that the bottom or a dead cat bounce?

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