The PSE Index – 11 April 2012
After weeks of consolidation, the Philippine Stock Exchange Index might continue its upward trend tomorrow, 12 April 2012. Our local market wasn’t really affected much by the US stocks sell-off last night, 10 April, as the Dow Jones Industrial Average plunges more than 200 points or -1.65%.
The PSEi closes today at 5,017.44 losing only 4.85 points. It’s a sigh of relief that it’s able to maintain the support level at 5,000. Time to buy those index stocks on a bargain. As I have mentioned before, any correction in prices of these blue chips will be an opportunity to buy. I still see the support level of the PSEi at 5,000 and 5,110-5140 its resistance levels.
Stocks on my List
For me, bank stocks are still attractive, namely PNB, BDO, and UBP.
Holding companies namely, AGI, JGS and SM is a “buy” for me since they have corrected significantly.
Oil stocks might rebound this month as Galoc Oil Field’s resumption of production, here’s the report from Otto Energy. You might want to observe OV and OPM’s price action.
WIN/PHES, on the other hand are attractive to short term traders due to this news. It says that Ayala Land is in talks with Gatchalian group for a possible investment in Valenzuela, we actually have read this news a few months back, though there hasn’t been any concrete agreement between the two companies as of yet.
Here’s my personal disclosure, my bets are still on GREEN, OPM and WIN. 
image from 123Rf.com
