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+ December 9, 2012 Email Address: john@mangunonmarkets.com.

Welcome

“If you brood and worry about the ones that got away you'll miss the ones that are coming your way” “I do not know what will happen. No one does. But we know what to look for.”- Arthur Cutten

LAST WEEK’S TRADING

Historic High Again and Again With Rotation Money Flowing into Stocks

The PSE hitting an historic is getting to be almost ordinary news. The PSE rose 2.73% this past week with the PASHR going 2.12% to the upside. However, it is the sub-indexes that are exciting. PFINC was up over 4% and the PPROP rose 3.35%. And PMINI has found a soft bottom and wants to turn its trend higher.


Summary of Index Changes

Issue/ Symbol PSEi PASHR PFINC PCOMM PHLDG PPROP PSERV PMINI

12/7/2012 11/29/2012 Closing Price Closing Price 5,794.20 3716.46 1550.85 8910.33 5072.70 2225.55 1763.49 18236.41

5,640.45 3639.42 1488.30 8803.31 4956.22 2153.37 1734.58 18043.13

Percent Change 2.73% 2.12% 4.20% 1.22% 2.35% 3.35% 1.67% 1.07%

It is the “Primary” List that is leading with those issues up an average of 3% while the “Secondary” list actually lost 1%. That shows us that this past week carried on with further leadership by the quality stocks. Further, the hidden and most important story from the PSE is the rotation of buying. During the prior week, AC was down 1.1%. This week it is up 8.8%. Likewise with JFC; previously down 1.95 and now up 4.5%. These upside reversals were mirrored the other way. MWC went from a 4% increase to being off 0.5%. SM had gone 4.9% higher to down 1%. Sister company SMPH did the same from 7.3% up to only 1.3% higher.


But the stars were MEG up 11% and RLC going up 10%. Bank stocks were also bright with BPI and BDO both gaining 7%.

PSE Index Issues

PSE Issue

Percentage Change

Previous Week Percentage Change

AC AEV AGI ALI AP BDO BEL BPI DMC EDC FGEN GLO ICT JFC JGS MBT MEG MER MPI MWC PCOR PX RLC SCC SM SMC SMDC SMPH TEL URC

8.1% 5.1% -0.2% 2.1% 4.7% 7.4% -1.8% 7.0% -1.6% -3.0% 0.0% 1.5% 0.3% 4.5% 4.5% 1.7% 11.2% 0.2% 3.7% -0.5% -1.9% 2.3% 10.0% 0.1% -1.0% -0.4% 3.6% 1.3% 2.4% 5.8%

-1.1% 1.2% 1.9% 3.0% 1.9% 3.0% -0.8% -4.1% -1.7% 2.0% -2.1% -0.9% 1.4% -1.9% -3.0% 2.9% 2.4% 2.6% 1.6% 4.0% 0.0% -0.8% 3.0% 0.0% 4.9% -0.1% -1.7% 7.3% 3.4% 1.3%

This past week showed us great price increases and very heavy and sustained volume. Those factors will lead us to the PSE reaching 6,000. But more about that later.


PSE Daily Chart After a brief pause last Wednesday, PSE at 5,700 was not a problem.


PASHR Daily Chart The broad market is keeping up with the advance of the blue chip issues. The rising tide floats all boats.


PSE Weekly Chart You can see here how the price increase accelerated this past week. Those that thought that the market would take a breather were wrong. There is just too much money out there wanting to buy stocks. The Buy Signal is now confirmed.


PASHR Weekly Chart There was no stopping the PASHR Weekly either. The Buy Signal just became stronger.

Heavyweight Issues of the Subsector Indexes

PCOMM

PFINC

PHLDG

PMINI

PPROP

PSERV

FGEN FPH MER MWC

BDO BPI MBT SECB

AC AEV AGI SM

AT LC LCB PX

ALI MEG RLC SMPH

CEB GLO ICT TEL


The PMINI Weekly Chart shows that this sub-sector is trying so hard to change direction to the upside.


PCOMM Weekly Chart PCOMM has been going up almost with a stop for over two months.


PFINC Weekly Chart The banking stocks took a breath the previous week and then continued to go much higher this past week.


PHLDG Weekly Chart The holding companies are not quite as strong as the broad market but that is due to rotation, not decreasing prices.


PPROP Weekly Chart Even for all the very good price increases in the PPROP sector, you can see the Buy/Sell Indicator is just getting started on its trip higher and higher.


PSERV Weekly Chart The PSERV is starting to take off on the increases in the share price of TEL and GLO.

The stock market gave us everything we could want this past week: Heavy volume, good price increases, and buying rotation through many issues. The money continues to flow into our stock market. But the important thing is not so much where we are at this historic high above 5,700, but where are we going?


THE BIGGER PICTURE STRATEGY SUMMARY

Are We Going to have Continuation or Correction?

The subsector indexes are all strong. The PSE index is making historic highs almost daily. The PASHR is not lagging but almost leading. However, are we going to correct or continue to go higher? Yes, we should have a correction. On the Trend Analysis lists you are going to find comments about possible corrections repeated over and over. Every “Buying” or “Neutral/Buying” stock could go down. We have to be ready for it. I can give you reason after reason why this uptrend cannot sustain itself without a correction. But in fact this market could continue to go higher and higher without a meaningful broad correction. The key would is “broad”. We have to be ready at anytime for the issues we are holding to go down. DO NOT forget those support levels. However, with the rotation of buying and selling we are experiencing, the broad market could go higher and higher. But we must be aware that if the buy/sell rotation is going to continue pushing the indexes to new and newer highs, we have to careful with individual issues.


Look at SMPH. The SMPH Daily Chart is a bit ugly. A small mover lower and we break the Red Moving Average Line to the downside. We have a Sell Signal.


But the SMPH Weekly Chart says buy on any weakness. The Buy/Sell Indicator looks to be safe until SMPH reaches about P20.00.


The BDO Weekly Chart says it is going to correct to the downside very soon. The Buy/Sell Indicator is at an extreme high.


The GTCAP Daily and Weekly Charts say we should get ready for a correction. GTCAP Daily Chart


GTCAP Weekly Chart


ALI Weekly Chart says there is nothing but blue sky ahead for this issue. We have had a break higher from the Moving Average Resistance and a confirmed Buy Signal from a low level.


And the TEL Weekly Chart shows that this issue is just beginning to take off higher. TEL Weekly Chart


The AC Weekly Buy/Sell Chart shows we should have a correction around the P550 area.

So here is the bottom line analysis and scenarios on all of these charts. 1.The broad market takes a correction and we see the PSE around 5,550. 2.Individual issues go up and down with their own corrections but the broad market continues to go up. We have to be careful with Supports and Resistances. 3.The abroad market and individual issues go sideways for a few weeks to relief the extreme pressures on the Buy/Sell Indicator. 4.The market and all stocks just continue to go higher and higher without much of any corrections.


The 3rd scenario is shown in the long term AC Weekly Chart. Here the price went sideways while the indicator went down.

The 4th scenario is the one that is the most ‘controversial’. How can prices continue to go higher and higher after reaching historic high after historic high? The amount of money flowing into the PSE and the willingness of people to buy and buy stocks makes this 4th scenario a genuine possibility. If you remember when the PSE index was at 4,800, many said that prices were too high. They pointed out that the Price Earnings Ratio was about 17. But here is what has happened since 4,800 in May 2012. The PSE is now at 5,800 area, up 1,000 points and 20%. Guess what? The PER between then and now is only slightly higher. Stock prices are going up at almost the same rate and corporate profits. The Philippine Peso now is 7% higher than then and is now in an uptrend. Yes, the market can just continue to go higher and higher. We can confirm this by watching TEL and the PSERV index. We can also confirm this scenario by watching the PMINI index.


You will make a tremendous amount of profit in the next months. It is only a matter of how because it is only a matter of how the PSE is going to march to 6,800/7,000.

ISSUES OF INTEREST These are issues that are not on the Trend Analysis List but have increased volume or price movement that warrants attention. Remember; do not trade these issues unless there is volume. Do not trade these if they move much below the “Entry Price�.

Issue/Symbol

ANI

APC

SGI

Closing Price

6.85

0.67

2.00

Percent Previous Buy Change Week Entry No Cut-Loss from Closing Price Higher Below Previous Price Than Week

6.99

0.63

1.88

-2.0%

6.3%

6.3%

7.00

0.64

2.00

7.18

0.65

2.05

6.85

0.60

1.93

Price Target

Comment

8.00

Looks to have found a bottom at the P7 area. Speculative buying but must see volume increase.

0.69

Very speculative buying opportunity because of volume spike and move above moving average resistance.

2.20

Breakout higher from moving average resistance on higher volume.


PRIMARY TREND ANALYSIS If the “Current Trend� has changed from the previous week, this is indicated by the new trend being underlined and in italics. Selected Buying issues are highlighted in Blue.

12/7/2012 11/29/2012 Percent Percent Issue/ Percent Closing Closing Support Resistance Above Below Symbol Change Price Price Support Resistance

Current Trend

Target Price if Trend Current Comment Trend Continues

PSEi

5,794.20

5,640.45

2.73%

5,630

5,850

3%

1%

Buying

5,880

PASHR

3716.46

3639.42

2.12%

3,630

3,775

2%

2%

Buying

3,780

PFINC

1550.85

1488.30

4.20%

1520

1600

2%

3%

Buying

1600

PCOMM

8910.33

8803.31

1.22%

8830

9030

1%

1%

Buying

9025

PHLDG

5072.70

4956.22

2.35%

4980

5125

2%

1%

Buying

5100

High volume breakout now targets 6,000. Strong upside breakout now generates Buying signal Continued upside trend but in short term indecision pattern. Watch for correction. Very strong upside momentum for last 14 weeks continues. Target is 9,500. But watch for top near 9,000. Good upside followthrough on previous week's increase.

Strategy


PPROP

2225.55

2153.37

3.35%

2200

2260

1%

2%

Buying

2280

PSERV

1763.49

1734.58

1.67%

1680

1825

5%

3%

Buying

1800

PMINI

18236.41

18043.13

1.07%

17850

18775

2%

3%

Neutral/Buying

18500

ABS

33.80

31.25

8.2%

30.80

34.50

9%

2%

Neutral/Buying

34.25

AC

520.00

481.20

8.1%

500

550

4%

6%

Neutral/Buying

500

AEV

51.80

49.30

5.1%

49.60

53.75

4%

4%

Neutral/Buying

53.00

Upside momentum is strong but top is coming soon. Strong break above moving average resistance. Bottom at 18,000 area. Is holding but very fragile. But trend may be turning higher. Strong upside reversal on Wait for lower confirmed volume. uptrend for Needs to Buying break/hold opportunity. P34 to confirm uptrend. Reached Watch for P495 target correction and now to below targets P500 . But P550 after uptrend is potential in place. correction. Resistance at P53 area is strong. Buying Look for opportunity reversal to for move to P50.75 P59. Watch area. for pullback Upside to above momentum P50.00. is building on higher volume.


AGI

16.26

16.30

-0.2%

15.00

17.50

8%

8%

Neutral/Selling

16.50

ALI

24.50

24.00

2.1%

23.88

26.00

3%

6%

Buying

26.00

AP

37.10

35.45

4.7%

35.50

38.00

4%

2%

Neutral/Buying

37.50

AT

17.50

17.32

1.0%

17.15

18.25

2%

4%

Neutral/Buying

18.50

BDO

76.75

71.45

7.4%

73.50

78.00

4%

2%

Neutral/Selling

73.50

BEL

5.00

5.09

-1.8%

4.85

5.20

3%

4%

Neutral/Selling

4.85

Indecision pattern on volume increase. May signal a negative trend change. Must hold P16 area or then targets P15.40.

Speculative Buying opportunity for move to P18. Watch support very carefully.

Buying Break/hold opportunity of P24 now for move to targets P28. Watch move to support and P28. volume. Upside momentum Buying is good but opportunity watch for for move to correction P38. P36 area. Building Speculative upside buying momentum opportunity on higher for move to volume. P18.25. Reached P75 target. Expect No buying correction opportunity to as low as until price P72.85. corrects downward. Trying to find a bottom at current No Buying levels but opportunity downward until trend trend is still turns to the in place. upside. Needs break/hold of P5.20.


BPI

95.25

89.00

7.0%

93.00

98.00

2%

3%

Neutral/Selling

92.00

CHIB

55.80

55.30

0.9%

52.50

56.80

6%

2%

Neutral/Buying

56

DMC

EDC

EEI

ELI

53.95

6.85

9.70

1.09

54.80

7.06

9.35

0.97

-1.6%

-3.0%

3.7%

12.4%

53.75

6.40

8.97

1.03

56.00

7.25

10.00

1.15

0%

7%

8%

6%

4%

6%

3%

6%

Neutral/Selling

Neutral/Selling

Buying

Neutral/Buying

53.00

6.50

10.00

1.15

Upside reversal above P95 is positive but must have follow through. Potential top at P97. Resistance above P56.80 is strong but upside momentum is still building. Pivot price area is P54. Trend is negative. Must hold current level or then targets P52.50. Failure to break/hold P7.25 is negative. Trend negative for move to P6.50. Still building upside momentum but watch for top at P10.00. Strong break above P1.00 is positive for move to P1.15. But this may be a Buying climax.

Very speculative buying opportunity for move to P98 but risk/reward is not favorable. Speculative Buying opportunity for move to P58 but watch Support and volume. Speculative Buying opportunity for move above P58. Long term target is P65.

Buying opportunity canceled on failure to hold P7.00. Buying opportunity for move above P10. Watch volume.

Watch Support very carefully.


EW

FDC

FGEN

FLI

FPH

28.25

4.82

23.00

1.58

91.95

26.90

4.60

23.00

1.51

92.00

5.0%

4.8%

0.0%

4.6%

-0.1%

27.75

4.70

22.00

1.50

89.75

29.00

5.00

25.00

1.63

96.00

2%

2%

4%

5%

2%

3%

4%

9%

3%

4%

Neutral/Buying

Neutral/Buying

Neutral/Selling

Neutral/Selling

Neutral/Selling

30.00

5.00

22.40

1.55

90.00

Watch for top above P28. Trend is up on higher volume. Daily volume spike pushed price to P5.00. Potential for pullback to P4.60 area. Must break/hold P5.00 to then target P6.50. Indecision pattern. May find bottom at current level if volume increases. Trying to build upside momentum but until break/hold of P1.60, trend is still neutral with slight upside bias. Pivot price area is P91.50 and must hold there to avoid move to as low as P86.50.

Buying opportunity for move above P30. Watch volume.

Reached P5.00 upside target closing short term position. Long term target is P6.00.

Wait for confirmed uptrend for Buying opportunity.

Wait for confirmed uptrend for Buying opportunity.

Watch Support very carefully.


GERI

2.00

1.83

9.3%

1.93

2.05

4%

2%

Neutral/Buying

2.10

GLO

1,142

1,125

1.5%

1,125

1,160

1%

2%

Neutral/Buying

1,150

GMA7

8.74

8.60

1.6%

8.46

9.20

3%

5%

Neutral/Buying

9.00

GTCAP

650

596

9.1%

600

675

8%

4%

Neutral/Buying

675

Break/hold of P1.90 on volume Speculative spike is Buying positive for opportunity move to for move to P2.25 if P2.35. there is Watch follow Support and through. volume. Watch for top above P2.05. Speculative Buying Still needs opportunity high volume for move to break/hold P1,200. of P1,150. Watch Support and volume. Still trying to build upside Speculative momentum Buying with a opportunity strong for move to bottom P9.50. now at Watch P8.50 area. Support and Break/hold volume. of P8.75 now targets P9.20. Strong upside breakout on Buying lower opportunity volume. for move to Watch for P7.00. top at any Watch time and support. potential for correction.


ICT

71.20

71.00

0.3%

68.00

72.65

4%

2%

Neutral/Buying

73.00

JFC

109.20

104.50

4.5%

103.00

110.00

6%

1%

Neutral/Buying

115.00

JGS

37.50

35.90

4.5%

36.00

39.50

4%

5%

Buying

40.00

LC

0.94

0.89

5.6%

0.84

0.98

11%

4%

Buying

1.00

Pivot price and strong resistance area is P70 Wait for area. confirmed Building uptrend for upside Buying momentum. opportunity. Trend is slightly positive. Speculative Heavy price Buying congestion opportunity between for move to P105/110. P115. Upside Watch momentum support. is starting to Risk/reward build. favorable. Pullback to P35 area. Speculative Now buying building opportunity upside for move to momentum P45. Watch for move to support. P40. But Risk/reward watch for is favorable. top above P38. Pivot price is now P0.90 area. Building upside Buying momentum opportunity for move for move to above P1.00. P1.00. Watch for top below P1.00.


LPZ

MA

6.38

0.060

6.25

0.060

2.1%

0.0%

6.20

0.060

6.60

0.063

3%

0%

3%

5%

Neutral/Selling

Neutral/Buying

6.20

Pivot price area is P6.40. Must hold P6.20.

0.063

Strong support at P0.060 but break below then targets P0.056.

MBT

101.50

99.80

1.7%

93.75

105.00

8%

3%

Buying

110.00

MEG

2.79

2.51

11.2%

2.47

2.85

11%

2%

Buying

2.85

MER

262.40

262.00

0.2%

257

268

2%

2%

Neutral/Selling

270.00

Very speculative buying opportunity. For move to P6.60 but watch Support carefully. Speculative Buying opportunity for move to P0.070 but must hold support.

Must hold P95 area or Buying then targets opportunity P92/93. for move to Upside P110. momentum Watch is building Support. on lower volume. Reached Building upside strong target of upside P2.60. Now momentum. targets Break/hold P3.00 IF of P2.85 break/hold then targets of P2.85. P3.00. Watch Watch for Support and pullback to volume. P2.70 area. Expect correction. Very speculative Top at P270 buying is growing opportunity stronger. for move to Trend is P280. negative. Watch Support and volume.


MPI

MWC

PCOR

PGOLD

PNB

PX

4.54

32.60

10.40

32.60

88.00

13.30

4.38

32.75

10.60

32.20

88.50

13.00

3.7%

-0.5%

-1.9%

1.2%

-0.6%

2.3%

4.45

31.00

10.30

29.50

76.65

12.50

4.65

33.58

10.60

35.00

90.00

14.12

2%

5%

1%

10%

13%

6%

2%

3%

2%

7%

2%

6%

Buying

Neutral/Buying

Selling

Neutral/Buying

Neutral/Selling

Neutral/Buying

4.65

33.50

10.30

Break/hold of P4.40 to targets P4.60. Upside momentum is building. Watch for top above P4.65. Top at P33 area is becoming stronger. But price could breakout to the upside if volume spikes. May find a bottom at P10.30 area but trend is negative.

31.75

Losing upside momentum on lower volume.

90.00

Watch for top at P90 area. upside momentum is weakening

13.00

Must break/hold P13.50 to then target P14.50. Trying to build upside momentum.

Reached upside target of P4.50. Buying opportunity for move to P4.70. Watch Support and volume. Speculative buying opportunity for move to P35. Watch Support and volume. No Buying opportunity until trend turns to the upside. Speculative Buying opportunity for break above P35 but watch Support and volume. Speculative Buying opportunity for break above P94 but watch Support and volume. Speculative Buying opportunity for break above P15 but watch Support and volume.


PXP

26.95

27.00

-0.2%

26.00

28.00

4%

4%

Neutral/Buying

28.00

RCB

57.45

55.40

3.7%

51.75

59.50

10%

4%

Neutral/Buying

59.50

RLC

20.90

19.00

10.0%

19.90

21.50

5%

3%

Buying

21.50

SCC

220.20

220.00

0.1%

215

231

2%

5%

Neutral/Buying

225

SECB

165.20

163.90

0.8%

155

166

6%

0%

Buying

170

Speculative Break/hold Buying of P28 then opportunity targets for move to move to P32 but P32. Trend watch is neutral. Support and volume. Building strong Speculative upside Buying momentum opportunity on higher for move to volume. P60 but Needs watch upside Support and follow volume. through. Strong breakout to Speculative the upside buying on volume opportunity spike. for move to Needs P24. Watch break/hold Support and of P21.50 to volume. then target P24.00. Very speculative Pivot price Buying is P220 but opportunity trend is for move to neutral with P240 but a downside watch bias. Support and volume. Building upside Buying momentum opportunity on higher for move to volume. P18 but Trend looks watch to be Support and turning volume. higher.


SM

868.00

877.00

-1.0%

815

900

6%

4%

Neutral/Buying

880

SMDC

6.00

5.79

3.6%

5.60

6.25

7%

4%

Buying

6.30

SMPH

15.76

15.56

1.3%

14.80

16.85

6%

7%

Neutral/Selling

15.00

TEL

UBP

URC

2,648

114

81.45

2,586

112

77.00

2.4%

1.9%

5.8%

2,500

105.00

75.75

2,700

115.00

88.00

6%

8%

7%

2%

1%

8%

Buying

Neutral/Buying

Neutral/Buying

2,700

120.00

85.00

Upside momentum is weakening slightly. Strong reversal from P5.80 on higher volume. Watch for top at P6.05 area. Expect short term correction to P15.00 area. Upside momentum continues to build on higher volume. New Buy signal. Trying to build upside momentum but volume is lower. Upside momentum is building on higher volume but watch for a top at anytime.

Speculative Buying opportunity for move to P900. Watch Support and volume. Speculative Buying opportunity for move to P6.30. Watch Support and volume. Buying opportunity canceled on failure to hold P16.00. Speculative Buying opportunity for move to P2700. But watch Support and volume very carefully. Good long term hold.

Reached upside target at P80. Wait for pullback for buying opportunity.


SECONDARY TREND ANALYSIS

12/7/2012 11/29/2012 Percent Percent Issue/ Percent Closing Closing Support Resistance Above Below Symbol Change Price Price Support Resistance

ABG

ACR

BLOOM

18.10

1.30

13.50

19.00

1.31

13.46

-4.7%

-0.8%

0.3%

18.00

1.28

13.35

19.75

1.38

14.00

1%

2%

1%

9%

5%

4%

Current Trend

Neutral/Buying

Selling

Neutral/Selling

Target Price if Trend Current Comment Trend Continues

20.00

1.28

13.00

CEB

62.80

63.00

-0.3%

59.00

64.00

6%

2%

Neutral/Selling

63.50

CMT

1.50

1.61

-6.8%

1.55

1.68

4%

4%

Neutral/Selling

1.65

CPG

1.43

1.38

3.6%

1.35

1.43

2%

4%

Neutral/Selling

1.40

Failure to hold P19.00 is negative for a move to as low as P1.75. May find a bottom at P1.30 but trend is negative. Trend is still negative. Needs break/hold of P14 to then target P15.

Strategy

Watch support carefully. No Buying opportunity until trend turns to the upside. Wait for confirmed uptrend for Buying opportunity.

Very Watch for Speculative top above buying P63. Upside opportunity trend is for move to weak. P68. Trying to No Buying find a opportunity bottom at until trend P1.50 area turns to the on low upside. volume. Trend is still down on No Buying higher opportunity volume but until trend may see a turns to the selling upside. climax soon.


DIZ

14.86

16.30

-8.8%

13.50

15.75

9%

6%

Neutral/Selling

14.00

FOOD

2.12

2.18

-2.8%

2.10

2.25

4%

3%

Neutral/Selling

2.08

GEO

0.51

0.51

0.0%

0.50

0.55

2%

8%

Neutral/Selling

0.53

LIHC

0.97

1.01

-4.0%

1.00

1.06

1%

5%

Selling

0.93

LR

7.89

8.68

-9.1%

7.50

8.50

5%

7%

Selling

7.50

LRI

10.48

9.80

6.9%

9.40

10.00

4%

2%

Neutral/Buying

10.00

No Buying Strong opportunity support at until trend P13.50. Will turns to the it hold? upside. Upside momentum continues Very to weaken speculative on lower Buying volume. opportunity Failure to for move to break/hold P2.25. P2.20 is Watch negative for volume. move to P2.05. Trend is No Buying negative opportunity but may until trend find bottom turns to the at P0.50. upside. May find Wait for bottom at confirmed P1.00 area uptrend for but trend is Buying negative. opportunity. Wait for Negative confirmed trend is uptrend for growing Buying stronger. opportunity. Strong upside Reached breakout on upside higher target of volume but P10.50. watch for Wait for top at pullback. P10.50 area.


LTG/TDY

12.88

13.06

-1.4%

12.58

13.80

2%

7%

Neutral/Selling

12.60

MARC

1.73

1.84

-6.0%

1.70

1.80

2%

6%

Neutral/Selling

1.70

NI

4.80

5.00

-4.0%

4.76

5.40

5%

8%

Neutral/Buying

4.75

NIKL

16.08

15.96

0.8%

15.68

16.50

2%

3%

Neutral/Buying

15.60

ORE

3.12

3.09

1.0%

3.00

3.20

3%

4%

Neutral/Buying

3.20

OV

0.039

0.039

0.0%

0.038

0.043

3%

10%

Neutral/Buying

0.042

Speculative Buying opportunity Must hold for move to current P14.50 but level or must hold then targets support. P12.47. Rick/reward is not favorable. No Buying Trend is opportunity negative on until trend higher turns to the volume. upside. Failure to break/hold No Buying P5.00 now opportunity targets until trend P4.60. May turns to the see selling upside. climax soon. Trying to find a bottom and No Buying trying to opportunity build upside until trend momentum. turns to the May see upside. selling climax soon. Speculative buying Looking for opportunity a bottom at for move to P3.00 area. as high as Trying to P3.50. build upside Watch momentum Support and volume. Very speculative Found a buying short term opportunity bottom at for move to P0.038. as high as Trying to P0.045. build upside Watch momentum. Support and volume.


PAL

PIP

PNX

RFM

SMC

5.00

5.76

9.24

4.14

108.60

5.00

5.37

9.01

4.12

109.00

0.0%

7.3%

2.6%

0.5%

-0.4%

4.55

5.15

9.00

4.00

100

5.13

5.60

9.50

4.25

115

9%

4%

3%

3%

8%

3%

4%

3%

3%

6%

Neutral/Buying

Neutral/Selling

Buying

Neutral/Buying

Neutral/Selling

5.25

5.60

Trying to find a bottom at P5.00 area. Trend is slightly negative but trying to build upside momentum. Good upside breakout but needs follow through to avoid a top at P5.80 area.

10.00

Price is building strong upside momentum if volume continues to increase.

4.20

Trying to build upside momentum but trend is neutral.

110

Trend is neutral with negative bias.

No Buying opportunity until trend turns to the upside.

Reached upside target at P5.75. Wait for pullback for buying opportunity. Speculative Buying opportunity for break above P9.50 but watch Support and volume. Indecision resolving to the upside. Speculative buying opportunity for move to P4.40. Watch Support and volume. Wait for confirmed uptrend for Buying opportunity. Risk/Reward is not favorable.


VLL

WEB

5.10

13.14

5.00

13.90

2.0%

-5.5%

4.90

13.00

5.20

14.75

4%

1%

2%

12%

Neutral/Selling

Neutral/Selling

5.20

Must hold P5.00 or then targets P4.80. Trend slightly positive.

15.00

Price is range trading P13/14. No clear trend.

Speculative Buying opportunity. For move to P5.50 but watch Support and volume very carefully. Risk/reward is fair. Very Speculative Buying opportunity. For move to P15.50 but watch Support and volume very carefully. Risk/reward is fair.

Disclaimer: Mangun on Markets is a private subscription e-newsletter prepared and published by John Mangun. It is a technical analysis of the Philippine Stock Market and individual stocks traded on the Philippine Stock Exchange. It is strictly a personal analysis of technical aspects of the markets and not individual investment advice to its subscribers. The information publish is based on my opinion and interpretation of data publicly available. Although I make every effort to provide the most accurate and updated information possible, information cannot take into consideration your personal finances and goals, and therefore it is not intended to be used as customized recommendation to buy, hold, or sell securities, or engage in any trading strategy. Any investment recommendation may, only be made by a personal advisor or the broker of your choice. Notwithstanding any other agreement or other communications between John Mangun and Subscriber to the contrary, receipt or use of any material provided by John Mangun, at any time and through any means,


PSE Strategy Guide -December 9,2012