PSE Strategy Guide -May 19,2013

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May 19, 2013

Email Address: [email protected].

Text messages to: 0917-543-9697

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

Market Retreats from 7,400 High

Trading Gap Still Remains Unfilled

Stock market prices were all over the place with the PSE ending the week with a 0.24% increase and the PASHR down 0.47%. However, the PASHR being

down in large measure was due to the very strong drop of the PMINI stocks. Both indexes reached a new high with the PSE breaking above 7,400 and the

PASHR hitting 4,570. But the momentum that started the shortened trading week was not enough to push prices to a sustainable new high and the week

ended with back-to-back down days, especially on Thursday and Friday.

PSE Daily Chart

While reaching 7,400, the PSE broke to an historic high on the Buy/Sell Indicator and then fell back. The Buy/Sell indicator ended the week just above its

Medium Term Support level. The price chart shows that on Friday we came down to the short term Red Moving Average Line. From there, we might expect

a move higher but that is unlikely when we look at the information from the other charts. Further, we still have that gap staring at us at 7,093.

While that gap is still unfilled, there is strong reason to believe that this may be the week. The first Support on the Daily Buy/Sell Indicator would probably

not be enough to fill the trading gap. But the second Support would bring us to the 7,093 level and create a Bear Trap as we discussed last week.

PASHR Daily Chart

The PASHR closed the week on Friday below the short term Red Moving Average Line. That line is now flat. You can see the historic high on the Buy/Sell

Indicator and the first line of Support. A move to that Buy/Sell Indicator support would probably put the PASHR index at the Green Medium Term Moving

Average Line. A move on the PASHR to the Green Moving Average Line would most likely bring the PSE down to a level that would fill its trading gap.

This is a further indication that we may see a Bear Trap on both indexes.

PSE Weekly Chart

Last week I was concerned that the PSE Weekly Chart might show us an “Evening Star” Pattern. Here is the evening Star” pattern once again.

As you can see from the PSE Weekly Chart, we did not create an “Evening Star”. That is a good sign as the Evening Star might predict a strong downside

reversal. However, the closing pattern this past week does say that we need to go down to fill the large distance between price and the Red Short Term

Moving Average Line. Here once again that is another reason to expect the PSE Daily Chart trading gap will be filled.

The Buy/Sell Indicator is neutral just below the historic high level.

PASHR Weekly Chart

The PASHR Weekly Chart gives us a “Shooting Star” pattern. A ’Shooting Star’ forecasts a downward movement most of the time. However, it only signals

a downside reversal 59% of the time which is statistically not significant. Therefore, here again, the conclusion is a short term downside movement.

The realistic project is for a 2.7% to a stronger 4.4% downside move. The worst case scenario is for this index to go all the way down to the Green Long

Term Moving Average Line for a 7.2% decline.

PSE Index Issues

I have highlighted a few of the issues that have given some wild moves in the past three weeks. Some are accelerating to the downside. Others are trying to

recover. Still others are still going higher but at a slowing speed.

Issues are certainly not all moving in the same direction. It is a market of stocks, not a stock market.

And when you see this kind of trading, it means that traders are undecided which way the market is going to go in the future.

Issue Percentage

Change

Previous Week

Percentage Change

Two Week Past

Percentage Change

AC -0.5% 1.5% 3.4%

AEV -1.8% -2.4% 2.5%

AGI -1.7% 5.6% 0.2%

ALI 1.2% 2.9% 4.3%

AP 0.6% -4.1% 1.9%

BDO 2.9% 0.3% 1.3%

BEL -1.1% -2.7% -4.4%

BLOOM 4.9% 0.8% -4.7%

BPI 3.5% -0.5% 0.6%

DMC -2.7% 0.5% 5.7%

EDC 0.3% -0.5% -3.2%

FGEN 1.1% -4.1% 0.2%

GLO -3.5% 4.5% 14.0%

ICT -8.2% 5.8% 3.2%

JFC 4.0% 3.5% 0.4%

JGS 0.0% 0.1% 2.2%

MBT 3.7% 1.4% 6.3%

MEG -3.3% -0.2% 1.9%

MER -2.6% 2.1% 6.9%

MPI -1.5% -0.2% 5.3%

MWC 1.1% -0.7% 0.6%

PCOR -1.2% 4.3% 1.3%

PX -13.6% -4.1% 0.8%

RLC -5.0% -0.8% 1.4%

SCC -6.7% -0.7% 0.9%

SM 1.6% -1.1% 2.8%

SMC -6.5% 0.8% -0.5%

SMPH 0.5% 0.0% 1.8%

TEL 1.7% 1.2% 3.3%

URC 3.1% -0.6% 7.6%

This past week we saw short term reversals on both the PHLDG and PSERV. The story is the PMINI losing 12.5% in the past two weeks.

Summary of Index Changes

Issue/ Symbol

5/17/2013 Closing Price

5/10/2013 Closing Price

Percent Change

Previous Week

Percentage Change

PSEi 7,279.87 7,262.38 0.24% 0.65%

PASHR 4,496.21 4,517.42 -0.47% 0.61%

PFINC 1,893.94 1,871.86 1.18% 0.19%

PCOMM 10,991.44 10,933.62 0.53% -0.02%

PHLDG 6,554.28 6,579.69 -0.39% 0.56%

PPROP 2,980.81 2,979.19 0.05% 1.04%

PSERV 2,123.00 2,134.04 -0.52% 1.90%

PMINI 17,688.26 19,527.30 -9.42% -3.13%

Heavyweight Issues That Move the Subsector Indexes

PCOMM PFINC PHLDG PMINI PPROP PSERV

FGEN BDO AC AT ALI BLOOM

FPH BPI AEV LC MEG GLO

MER MBT AGI LCB RLC ICT

MWC SECB SM PX SMPH TEL

PFINC Weekly Chart

While there are still some potential upside movers in the PFINC shares, the overall index is ready to drop. The price is far away from the Red Moving

Average Line and the Buy/Sell is Neutral with a negative bias.

PCOMM Weekly Chart

The story is the same for the PCOMM; large gap between the Red Moving Average Line and a Buy/Sell that has a negative bias.

PHLDG Weekly Chart

You see how the major subsector indexes are lining up to fill that gap between price and Moving Average Line? The negative bias is stronger here on the

PCOMM.

PPROP Weekly Chart

And again, we see the same story here on the PPROP. Here the gap between the price and Moving Average is not as large therefore, we should see this index

go down but not as much as the others that may potentially fall.

PSERV Weekly Chart

“Shooting Star”, price/Moving Average Line gap, and a slightly negative Buy/Sell Indicator. The market is going down in the short term.

PMINI Weekly Chart

The PMINI is at Support but this is not a Selling Climax yet. We may get a bounce higher from this point but under no circumstances should you Buy into

this potential upside move.

Sellers are convinced mining issues are going lower but Buyers are still looking for “bargains’. That situation does not make a Selling Climax.

The PMINI is also a tremendous drag on the whole market right now.

Summary

The market could not sustain its upside momentum from the previous week. The trading gap looks more and more like it is going to be filled. A Bear Trap is

a strong possibility.

I said last week that a large move was coming. The previous week’s momentum said that there was a good possibility that the move would be higher. But I

also said that “the chart patterns which include the gap, the Buy/Sell indicator, and the neutral patterns, say it could go either way”.

After this past week’s price movement, it is very difficult to believe that coming move will be higher.

THE BIGGER PICTURE

STRATEGY SUMMARY

“No Buying Opportunity Until Trend Turns To The Upside And Is Confirmed”

That is the theme for this coming week. Our strategy is clear: Wait and Watch.

Last week I gave you the scenarios that I saw developing. It appears the winner is “We are going down to fill the PSE trading gap”.

But as we all know, this is the Philippine Stock Exchange where ANYTHING can happen. If, and it is a big ‘IF’ the market does not go down towards the

PSE gap, then Scenario number 3 “The market going to enter a new upside phase as we saw in November 2012” and prices are going to boom to the upside.”

will take place

That is why we need to Wait and Watch and then React.

The individual stock charts provide us with the forecast and give us the trading strategy.

AC Weekly Chart

AC also has a trading gap (which you cannot see on this Weekly Chart) at P640. If it moves to that area, then the weekly Buy/Sell Indicator moves to its

Support level.

ALI Daily and Weekly Chart

The Daily Chart says we are going down.

But the ALI Weekly Chart says a drop now would be a Buying opportunity. That is further confirmation of “No Buying Opportunity until Trend Turns

To The Upside And Is Confirmed”

BDO Weekly Chart’

BDO looks to be forming a Double Top at the current price level. But Buy/Sell Indicator is neutral and at Support. This is a further indication of a short term

move down creating a Bear Trap and then a good Buying opportunity. Wait and watch.

GLO Weekly Chart

GLO is topping out at the current level. It has a long way down to meet the Red Short Term Moving Average Line. At that price the Buy/Sell hits Support

and another Buying opportunity.

MBT Weekly Chart

MBT has upside momentum but do not buy into that for the moment. The Buy/Sell Indicator is at an extreme high. Wait for the Buying opportunity that will

soon come.

MEG Weekly Chart

MEG is always a good trading stock. But here once again, a move to the Buy/Sell Indicator Support will create a Bear Trap and a Buying opportunity.

SM Weekly Chart

I will say it one more time. A move to the Buy/Sell Indicator support will create a Bear Trap and a Buying opportunity.

TEL Weekly Chart

A near extreme on the Buy/Sell Indicator and a large price/Moving Average Line gap.

Summary

Wait and watch . . . which is what I have said for the last two weeks. The market is ready for a strong upside move. But first we need it to, we want it to

create the best possible Buying opportunity and that is going to happen. Be patient. Also there is no reason to let prices go below Support.

The market is very likely to go down between 2.7% and 4.4% just let it happen and know that it is setting you up for some great profit opportunities.

Finally, do not let anyone talk you into buying the mining issues. I do not care if they are all up 5% this week. If that happens it will be a Bull Trap and you

will lose money. PMINI’s time is going to come, perhaps next month, two months, whatever. But when it does come you will be a very lonely Buy at price

lows. We will be buying the PMINI issues when no one else wants them. And we will be selling out for profit when everyone wants them.

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 Closing Price Previous

Week Closing Price

Percent Change from

Previous Week

Entry Price Cut-Loss Below

Price Target Comment

COAL 1.02 1.04 -1.9% 1.05 1.03 1.20 Position closed on break of support.

DNL 8.32 8.31 0.1% 6.80 6.80 8.00 Position closed after

reaching target above P8.50.

GREEN 0.0180 0.0180 0.0% 0.0180 0.0170 0.0240

Volume increase and spike creates upside breakout.

Watch support very carefully.

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.

Issue/ Symbol

5/17/2013 Closing

Price

5/10/2013 Closing

Price

Percent Change

Support Resistance Percent Above

Support

Percent Below

Resistance

Current Trend

Target Price if Current Trend

Continues

Trend Comment

Strategy

PSEi 7,279.87 7,262.38 0.24% 7,045 7,400 3% 2% Neutral/Selling 7,093

Trend is weak and

expect gap to be filled at 7,093.

PASHR 4,496.21 4,517.42 -0.47% 4,385 4,550 2% 1% Neutral/Selling 4,438

Top at 4,570 area is strong.

Trend turning

negative for move to 4,350. Expect

pullback of between 2.7% to 4.4%.

PFINC 1,893.94 1,871.86 1.18% 1,832 1,935 3% 2% Neutral/Selling 1,826

Trend is weakening and expect gap to be filled at 1,826.

PCOMM 10,991.44 10,933.62 0.53% 10,642 11,250 3% 2% Neutral/Selling 10,805

Upside momentum

is still weakening.

PHLDG 6,554.28 6,579.69 -0.39% 6,375 6,650 3% 1% Neutral/Selling 6,389

Trend is weakening and expect gap to be filled at 6,389.

PPROP 2,980.81 2,979.19 0.05% 2,880 3,030 3% 2% Neutral/Selling 2,887

Indecision pattern

with weaker upside

momentum.

PSERV 2,123.00 2,134.04 -0.52% 2,090 2,160 2% 2% Neutral/Selling 2,076

Upside momentum

is weakening.

PMINI 17,688.26 19,527.30 -9.42% 17,200 18,500 3% 5% Selling 17,000

Break below 18,000 now

targets 16,300.

ABS 45.45 44.00 3.3% 43.50 46.75 4% 3% Buying 50.00

Building upside

momentum on higher

volume for potential move to P55.00 if volume remains high. But watch for

pullback to Support if

volume decreases.

Buying opportunity

for move above

P52.50. Watch

Support and volume

carefully.

AC 668.50 672.00 -0.5% 650.00 680.00 3% 2% Neutral/Selling 650.00

Top at P670/680

area is strong.

No Buying opportunity until trend

turns to the upside and

is confirmed.

AEV 56.00 57.00 -1.8% 53.70 57.50 4% 3% Selling 54.00

Break below P55 will

then target P50.



is confirmed.

AGI 26.00 26.45 -1.7% 25.00 27.25 4% 5% Neutral/Selling 24.75

Trend is reversing

for move to as low as

P23 unless there is a

break/hold of P27.60 quickly.



is confirmed.

ALI 33.90 33.50 1.2% 32.65 35.00 4% 3% Neutral/Buying 32.70

Upside momentum is only fair and expect short term pullback to as low as P31.60.

Speculative Buying

opportunity for move to P38. Watch

support and volume

carefully.

AP 36.35 36.15 0.6% 35.40 37.70 3% 4% Neutral/Selling 36.80

Range bound

between P36/P38.

But building good short

term Support at P36 area.

Very speculative

Buying opportunity for move to P38. Watch

support and volume

carefully.

AT 19.90 20.55 -3.2% 19.65 20.80 1% 5% Selling 19.50

Failure to break/hold P20.50 now

targets P19.50.



is confirmed.

BDO 95.80 93.10 2.9% 92.15 99.00 4% 3% Neutral/Buying 100.00

Building upside

momentum on higher

volume for move to P100+.

Speculative Buying

opportunity for move to

P100.

BEL 6.45 6.52 -1.1% 6.28 6.75 3% 5% Selling 6.20

Failure to break/hold P6.75 now

targets move to P6.25.



is confirmed.

BLOOM 12.80 12.20 4.9% 12.00 13.47 6% 5% Neutral/Buying 13.60

Building upside

momentum on higher

volume for move to P14.50.

Speculative Buying


P13.60. Watch volume

very carefully.

BPI 106.60 103.00 3.5% 102.50 110.00 4% 3% Buying 112.00

Break/hold of P106

positive for move to

P115. Must hold P100.

Speculative

Buying opportunity for move to

P115. Watch volume

very carefully.

CHIB 76.95 75.60 1.8% 75.00 78.00 3% 1% Neutral/Selling 75.00

Upside momentum

is slightly weaker.

Watch for pullback to fill gap at P71 area.

Very speculative


P81.

DMC 58.00 59.60 -2.7% 56.05 60.40 3% 4% Selling 56.30

Failure to break/hold

P60 now targets P56 unless P58

holds.



is confirmed.

EDC 6.35 6.33 0.3% 6.30 6.70 1% 6% Neutral/Buying 6.40

May have found a

bottom at P6.30 area for move to P6.60. Low

volume.

Very speculative


P7.50. Watch volume

very carefully.

EEI 15.20 15.26 -0.4% 14.45 16.00 5% 5% Neutral/Selling 14.75

Trend turning

negative on lower

volume.

Very speculative

Buying opportunity for move to P17. Watch

Support very

carefully.

ELI 1.12 1.12 0.0% 1.10 1.15 2% 3% Neutral/Buying 1.14

Indecision pattern but

trying to build upside momentum. Must have

more volume.

Very speculative


P1.17. Watch volume

very carefully.

EW 36.65 37.00 -0.9% 35.35 38.00 4% 4% Selling 35.60

Trend negative

after failure to break P37 area

top.


turns to the upside.

FDC 6.70 6.90 -2.9% 6.60 7.25 1% 8% Neutral/Selling 6.50

Failure to break/hold P7.00 top

now targets P6.30.



FGEN 22.20 21.95 1.1% 21.90 23.25 1% 5% Neutral/Buying 23.00

If bottom at P22 area

holds, price will move quickly to

P24 on any increased volume.

Very speculative


P24.00. Watch

volume.

FLI 2.22 2.04 8.8% 2.10 2.32 5% 5% Buying 2.32

Strong upside

move on break/hold of P2.07 on

higher volume.

Speculative Buying


P2.42. Watch

volume and for pullback

to P2.10.

FPH 106.70 108.80 -1.9% 105.00 110.00 2% 3% Selling 105.00

Indecision pattern

with slightly negative

trend.



GERI 2.27 2.50 -9.2% 2.15 2.36 5% 4% Neutral/Buying 2.15

Failure to hold P2.40 turns trend

negative but may

find a bottom at

P2.20.



GLO 1,564 1,620 -3.5% 1,550 1,600 1% 2% Neutral/Selling 1,550

Failure to hold P1,620 turns trend

negative but may

find a bottom at

P1,550.



GMA7 9.79 9.90 -1.1% 9.50 10.00 3% 2% Neutral/Selling 9.60

Indecision pattern


trend.



GTCAP 852.00 860.00 -0.9% 811 885 5% 4% Neutral/Selling 840

Failure to hold P880

turns trend negative but may

find a bottom at

P850.



ICT 92.25 100.50 -8.2% 90.00 95.75 2% 4% Neutral/Selling 90.00

Failure to hold P100

turns trend negative but may

find a bottom at

P91.



JFC 139.40 134.00 4.0% 134.20 140.00 4% 0% Neutral/Buying 135.00

Reached target price

at P140 which is

now turning into a top. Watch for pullback to P135 area.

Speculative Buying


P155. Watch

volume.

JGS 48.50 48.50 0.0% 46.25 50.00 5% 3% Neutral/Selling 46.00

Indecision pattern now

with negative

bias. Building top

below P50.00.



LPZ 6.82 7.01 -2.7% 6.70 7.00 2% 3% Selling 6.60

Failure to hold P7.00

now targets P6.60 and

lower.



MBT 136.30 131.50 3.7% 131.00 140.00 4% 3% Neutral/Buying 132.00

Upside momentum is good but watch for

pullback to P132 area.

Speculative Buying


P140. Watch volume

carefully.

MEG 4.05 4.19 -3.3% 4.00 4.15 1% 2% Selling 4.00

Must hold P4.00 or

then targets P3.85.



MER 384.80 395.00 -2.6% 375 390 3% 1% Neutral/Selling 375

Top at P395 area is

growing stronger

and trend is turning

negative.



MPI 6.09 6.18 -1.5% 6.00 6.30 1% 3% Neutral/Selling 6.00

Top at P6.20 area

growing stronger.

Trend turning

negative on higher

volume.



MWC 40.40 39.95 1.1% 40.00 42.00 1% 4% Neutral/Buying 42.00

Indecision pattern at pivot price of P40.00. Must hold

current level or

then targets P38.50.

Speculative Buying


P42.00. Watch

support.

PCOR 15.94 16.14 -1.2% 15.75 16.75 1% 5% Neutral/Selling 15.55

Top at P16.00 area is growing

stronger on low volume.

Trend is beginning

to turn negative.

Very speculative


P18.20. Watch

support.

PGOLD 39.85 40.80 -2.3% 39.25 41.00 2% 3% Neutral/Selling 38.00

Failure to hold P40.00 now targets

P38.00.



PNB 109.80 113.80 -3.5% 105.00 113.00 4% 3% Selling 105.00

Trend is negative for

move to P105.



PX 13.80 15.98 -13.6% 13.00 14.25 6% 3% Selling 13.00

Trend is negative for

move to P13.



PXP 19.76 25.30 -21.9% 19.00 21.00 4% 6% Selling 16.20 Trend is

negative.



RCB 73.50 72.75 1.0% 71.50 75.00 3% 2% Neutral/Selling 71.00

Indecision pattern

with negative

trend.



RLC 24.70 26.00 -5.0% 23.50 25.60 5% 4% Neutral/Selling 24.00 Trend is

negative.



SCC 280.00 300.00 -6.7% 273.00 286.00 3% 2% Selling 273.00 Trend is

negative.



SECB 181.00 200.80 -9.9% 175.00 190.00 3% 5% Selling 176.00 Trend is

negative.



SM 1,179 1,160 1.6% 1,128 1,200 4% 2% Neutral/Selling 1,150

Potential top at

P1,200. Trend is turning

negative.

Very speculative


P1,225. Watch

support and volume

carefully.

SMC 115.00 123.00 -6.5% 113.00 120.00 2% 4% Neutral/Selling 110.00 Trend is

negative.



SMDC 8.53 8.61 -0.9% 8.50 9.00 0% 6% Neutral/Selling 8.00 Trend is

negative on low volume.



SMPH 20.15 20.05 0.5% 19.40 20.90 4% 4% Neutral/Selling 19.50

Indecision pattern


trend.

Speculative Buying


P23.00. Watch volume

carefully.

TEL 3,180 3,128 1.7% 3,025 3,200 5% 1% Neutral/Buying 3,100

Trend is turning

negative after

reaching upside

target at P3,200 for move to P3,100.



UBP 153.80 153.80 0.0% 146.00 160.00 5% 4% Neutral/Selling 145.00

Potential top forming

at P155. Trend could

turn negative

very quickly.

Very speculative


P165. Watch volume

carefully.

URC 127.90 124.00 3.1% 123.00 130.00 4% 2% Neutral/Selling 123.00

Potential top forming near P130.

Trend could turn

negative very

quickly.

Speculative Buying


P140. Watch volume

carefully.

SECONDARY TREND ANALYSIS

Issue/ Symbol

5/170/2013 Closing

Price

5/10/2013 Closing

Price

Percent Change

Support Resistance Percent Above

Support

Percent Below

Resistance

Current Trend

Target Price if Current Trend

Continues

Trend Comment

Strategy

ACR 1.40 1.42 -1.4% 1.36 1.45 3% 4% Selling 1.37

Must hold current level or

then targets

P1.32/1.34.



CEB 79.50 81.30 -2.2% 77.85 81.50 2% 3% Selling 77.85

Trend is negative

for move to P76.20.



COSCO 16.62 17.50 -5.0% 16.00 17.50 4% 5% Neutral/Selling 16.00

Trend is going

negative on failure to

break/hold P18.00.



CPG 2.28 2.28 0.0% 2.20 2.35 4% 3% Neutral/Buying 2.35

Trying to build

upside momentum but volume

is low.

Speculative


P2.40. Watch

volume and support

carefully.

DIZ 8.45 9.09 -7.0% 8.00 8.80 5% 4% Selling 8.00

Negative trend but may find a bottom at

P8.00.



FOOD 1.90 2.00 -5.0% 1.85 2.00 3% 5% Neutral/Selling 1.85 Negative

trend.



GEO 0.50 0.50 0.0% 0.49 0.52 2% 4% Neutral/Buying 0.52

Indecision pattern and no upside

momentum on low

volume.



LC 0.68 0.77 -11.7% 0.65 0.70 4% 3% Selling 0.65 Trend is

negative.



LR 8.15 8.19 -0.5% 8.05 8.40 1% 3% Neutral/Selling 8.00

Trend is negative on

lower volume.



LRI 12.14 11.50 5.6% 11.95 12.25 2% 1% Neutral/Buying 13.00

Upside momentum is building for move

above P13.00 but

needs more

volume or trend will

turn negative. Watch for top above

P12.20.

Speculative Buying


above P13.00.

LTG 25.75 25.55 0.8% 24.15 27.00 6% 5% Neutral/Selling 25.00

Upside momentum

is weakening

on low volume.



MA 0.051 0.055 -7.3% 0.050 0.053 2% 4% Selling 0.050 Trend is

negative.



MARC 1.68 1.79 -6.1% 1.64 1.74 2% 4% Selling 1.64

Failure to hold P1.75 turns trend

negative for move to

P1.60.



MWIDE 22.35 23.00 -2.8% 21.63 23.10 3% 3% Neutral/Selling 22.00

Failure to break/hold

P24.00 turns trend

negative for move to

below P22.00.



NI 3.05 3.25 -6.2% 3.00 3.25 2% 7% Selling 3.00 Trend is

negative.



NIKL 22.00 22.90 -3.9% 21.50 24.25 2% 10% Selling 21.10 Trend is

negative.



ORE 2.27 2.55 -11.0% 2.20 2.38 3% 5% Selling 2.20 Trend is

negative.



OV 0.043 0.044 -2.3% 0.042 0.044 2% 2% Neutral/Selling 0.042

Trend is neutral

with negative bias. Low volume.



PIP 6.39 6.15 3.9% 6.21 6.50 3% 2% Neutral/Buying 6.50

Trend is neutral but

trying to build

upside momentum

on higher volume.

Very speculative


P6.80. Watch

volume and support.

PNX 7.44 7.36 1.1% 7.20 7.60 3% 2% Neutral/Buying 7.50

May find bottom at

current level for move to P8.10 if volume

goes higher.

Speculative Buying


P8.00. Watch

volume and Support.

RFM 5.81 5.90 -1.5% 5.70 6.00 2% 3% Neutral/Selling 5.68

Trend is negative

for move to P5.65 area.



VLL 6.88 6.99 -1.6% 6.65 7.25 3% 5% Neutral/Selling 6.75

Potential top above at 7.00 is growing stronger.

Speculative Buying


P8.00. Watch

volume and support.

WEB 15.46 15.56 -0.6% 14.90 15.90 4% 3% Neutral/Selling 15.00

Failure to break/hold P15.50 is turning trend

negative.



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,

Documents

PSE Strategy Guide -May 19,2013