2 February 2012 – Correction

Wow. Apparently, the PSEi didn’t close at 4,781.60 yesterday, February 2. Instead, multiple sources indicate the closing level was actually 4,822.08 points (+106.44 points, +2.26%):

http://business.inquirer.net/42697/philippine-stocks-hit-new-record

http://www.mb.com.ph/articles/350160/psei-reaches-record-high-anew

http://www.bloomberg.com/news/2012-02-02/chemical-industries-sm-development-philippine-stocks-preview.html

Sorry about that. This only goes to show, one should check with multiple sources to ensure accuracy of market information.

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3 Responses to 2 February 2012 – Correction

  1. noob says:

    your post is so timely. It’s Correction Day today!
    What is it? Do you think it’s still the M-O sector to fly for 2012?
    What happened with JGS?

  2. Abi says:

    I guess that’s what happened to JGS (and PCOR, http://www.mb.com.ph/articles/348550/petron-selling-employee-shares-for-174m-3-bank-underwriters-named).

    I think all-time highs are technically good, in the short term. But everything still hangs in the balance in Europe.

    http://www.ft.com/intl/cms/s/0/cf397bb8-5003-11e1-8c9a-00144feabdc0.html#axzz1lYQH2JN8

    http://www.nytimes.com/2012/02/06/business/global/greece-fights-on-two-fronts-to-secure-new-bailout.html

    I’d be very surprised if world markets continue their upward trek if a Greek default in March does occur. If no defaults happen in March and Europe does kick the can down the road again (very far down the road, hopefully), I wouldn’t be surprised if the current rally keeps going.

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