PSE Strategy Guide -September 23,2012

September 23, 2012

Welcome

“Expect the best. Prepare for the worst. Capitalize On What Comes.” ~ Zig Ziglar

“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 Blue-Chip Breakout

Despite Drop, Upside Momentum Continues

The euphoria of the previous week’s Federal Reserve announcement withered away and we saw the PSE index drop over four consecutive days. This past

Monday’s 0.50% increase was met by selling through the end of the week. The PSE lost 0.57%. The PASHR ended the week virtually unchanged losing

0.01%. Issues on the Trend Analysis list were down by 0.20% on average.

Trading this past week seemed to be negative what with those four down days. There was some technical damage down to the market at least in the short

term as the PSE Daily Chart shows with a close slightly below the Red Short Term Moving Average Line and a Sell Signal being generated on the

Indicator.

The picture on the PASHR Daily Chart is almost identical.

However, in looking at the Weekly Charts, we see that the upside momentum actually continued.

PSE Weekly Chart

PASHR Weekly Chart

The issue that has been leading the market higher, TEL, also led the market down. The TEL Daily Chart shows that TEL gave back all of its gains from the

previous Friday and threatens to return inside its long term range between P2,700 and P2,800.

TEL Daily Chart

However, the TEL Weekly Chart shows an absolutely neutral Buy/Sell Indicator and evidence of slight upside momentum continuing with the Weekly

Trading Range showing a Higher High and a Higher Low.

Here is a summary of the sub index action:

Close

Week Over Week %

Year to Date %

PSE 5,202 -0.57% 21.05%

PASHR 3,50 -0.01% 15.94%

PFINC 1,333 -1.04% 37.64%

PHLDG 4,459 -0.65% 27.29%

PPROP 2,053 1.10% 38.66%

PSERV 1,803 -1.28% 11.55%

PMINI 20,5833 -3.92% -12.43%

The Sub-Index Weekly Charts echo this pattern of slight retracement while maintaining slight upside momentum.

PFINC Weekly Chart has a neutral Buy/Sell indicator and a Weekly Trading Range well above the Red Short Term Moving Average Line.

The same analysis applies to the PHLDG Weekly Chart.

The PPROP Weekly Chart that index carried through to the upside and kept the upside momentum going. However, once again, the Buy/Sell Indicator is

neutral.

Mining issues on the other hand were unable to keep any of the gains from the previous week. However, this was due to PX dropping 6% and PXP

freefalling by 21%.

The PASHR Weekly Reverse Head and Shoulders Chart kept he pattern but went sideways for the first time in two months.

Traders were describing the market as “boring” with good reason. While there were eight issues of the 93 that we follow which were up more than 4%, there

were ten down more than 4%. Volumes continued to be relatively low. While there were several issues that reached 52 week highs this past week,

enthusiasm for the market is weak. We can see that in the performance of the speculative issues. Excitement comes in for a day or two and then the issues

drop on selling and go back to sleep. The market needs follow-through not only on the big stocks, it is also needed on the trading issues.

What we had this past week was a continuation of the trading pattern that has dominated the stock market since the beginning of July.

We then summarize the past week’s trading best by saying “Boring with an upside bias”.

The PSE responded positively to the announcement of more Quantitative Easing from the US Federal Reserve which rallied the global markets. It was “2%”

week with the PSE up 2.33% and the PASHR hitting a new historic high up 2.19%. The fact that the bulk of this increase occurred on Friday does not

diminish the significance of this move. Volumes were actually stronger this past week than the week before and that is always nice to see.

The tight spring uncoiled to the upside.

Here is a summary of the sub index action:

Close

Week Over Week %

Year to Date %

PSE 5,322 2.33% 21.74%

PASHR 3,531 2.19% 15.95%

PFINC 1,348 3.36% 39.09%

PHLDG 4,489 2.79% 28.11%

PPROP 2,031 0.62% 37.15%

PSERV 1,826 3.58% 13.00%

PMINI 21,423 3.42% -8.86%

THE BIGGER PICTURE

STRATEGY SUMMARY

A Pause to Refresh or a Top to Be Worried About?

What I said last week applies again this week; “The strategy for the next few days is very simple; Buy on dips and watch Support carefully.”

I will say again, the longer picture looks very positive for the move to 5,800 and beyond.

I will also say that the short term picture is clouded and unclear. Look at this ALI Daily Chart.

The price breaks to an historic high and the momentum is immediately killed by selling and not a small amount of selling but a wave of selling. It is

somewhat silly to see a stock like ALI go to an historic high and the Buy/Sell indicator is neutral. That does not make sense.

But then we look at the ALI Weekly Chart and the trend is clear for the price to continue to make historic highs over time.

We have a four week uptrend. The Buy/Sell Indicator is rising and becoming stronger which is exactly what we want to see at the start of a long term rally to

the upside.

So why isn’t the market booming forward?

Let’s go back to the basic cycles of stock market investor psychology.

You have seen this before.

What is investor emotional sentiment right now in light of the fact that we have several important issues making new historic highs, the PASHR just reached

a new historic high, and the PSE is within striking distance of that all-time high?

If this was a top, we should all be “Thrilled” if not “Euphoric” but certainly at least “Excited”. But investors are not feeling any of those emotions otherwise

we would not be having the rallies being slammed by selling. So where are we right now?

Because, overall, prices have been flat for several months, I believe investor sentiment is somewhere between “Depression” and “Hope”, probably closer to

“Hope”.

How could we be at the “Hope” phase in the cycle, which is at the beginning of a rally, with the PASHR makes new highs? Here is the PASHR Weekly

Chart with a special strength indicator.

While prices are at a high level, strength is at a low level. And stock market ‘strength’ is determined by how much of your money you are willing to put into

an investment. We do not invest unless we are positive about the future. That positive attitude then becomes market price strength.

He purpose for this discussion it explain why I firmly believe that regardless of any short term disappointments, we are going much higher in the medium to

long term.

This is my justification for buying on dips and accumulating issue that may not look completely favorable right now. So again Buy on dips and watch

Support carefully. We will soon be richly rewarded.

“Patience is bitter; but the fruit is sweet!”

TRADING STOCKS TO WATCH

These are issues that you may want to trade for short term gains.

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 Buy No Higher

Than Cut-Loss Below

Price Target Comment

ABA 0.71 0.73 -2.7% 0.70 0.73 0.70 0.85

Watch support and volume carefully as

in descending triangle pattern.

ATN 1.50 1.55 -3.2% 1.65 1.70 1.54 2.00 Position closed on break of Support.

IP 1.02 1.01 1.0% 1.02 1.03 0.99 1.05

Volume building and if volume continues to stay high, price will

move to P1.05.

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

9/21/2012 Closing

Price

9/14/2012 Closing

Price

Percent Change

Support Resistance Percent Above

Support

Percent Below

Resistance

Current Trend

Target Price if Current Trend

Continues

Trend Comment

Strategy

PASHR All-

Share

3530.34 3530.66 -0.01% 3,460 3,575 2% 1% Neutral/Buying 3,470

Must hold 3,520 or

then targets as low as

3,465.

ABG 21.80 21.00 3.8% 19.50 22.25 11% 2% Neutral/Buying 23.00

Trying to build upside momentum but trend is still neutral.

Wait for confirmed

uptrend for Buying

opportunity.

ABS 33.25 29.00 14.7% 29.50 34.50 11% 4% Buying 36.00

Strong upside

momentum but look for temporary top above

P34.50.

Buying opportunity for move to

P35.00. Watch Support and

volume.

AC 434.00 436.60 -0.6% 426 454 2% 5% Neutral/Selling 450

Needs break/hold of P440 to then target

P460. Potential for short term

move to P420 area.

Buying opportunity for move to P460. Watch Support and

volume.

ACE 1.40 1.50 -6.7% 1.40 1.60 0% 14% Neutral/Buying 1.60

Large volume

spike may signal move higher. But fall below P1.50 is

negative.

Speculative Buying

opportunity for move to


volume.

ACR 1.38 1.34 3.0% 1.35 1.45 2% 5% Neutral/Buying 1.45

Break/hold of P1.36 is positive for

move to P1.47.

Speculative Buying



volume.

AEV 48.00 48.95 -1.9% 47.00 50.00 2% 4% Neutral/Buying 50.00

Trying to build upside momentum but needs break/hold of P50 to

then target P55.00.

Wait for confirmed

uptrend for Buying

opportunity.

AGI 13.40 12.94 3.6% 12.36 13.46 8% 0% Buying 14.50

Upside momentum is growing

stronger but watch

volume.


P15.00. Watch for top above P13.50. Watch

Support and volume.

ALI 24.00 23.30 3.0% 23.00 25.50 4% 6% Buying 25.50

Continuing to build upside

momentum on higher volume.



volume.

ANI 8.55 8.45 1.2% 8.25 8.75 4% 2% Neutral/Buying 8.50

Upside momentum is trying to build but trend is neutral.

No Buying opportunity until upside

trend is confirmed on

higher volume.

AP 33.30 33.75 -1.3% 32.55 35.00 2% 5% Neutral/Selling 33.15

Upside momentum

is lost on lower

volume.

Buying opportunity cancelled on

failure to hold above Moving

Average support.

APC 0.62 0.62 0.0% 0.60 0.65 3% 5% Neutral/Selling 0.60

Failure to break/hold P0.65 is a negative and may signal a

change in trend to the downside.

Very Speculative

Buying opportunity for move to P0.70 but

watch Support and volume.

APO 2.00 2.03 -1.5% 1.88 2.05 6% 2% Neutral/Selling 2.05

Bouncing P2.00 Pivot price area

on increasing

volume. No confirmed

uptrend but building upside

momentum.

Wait for confirmed

uptrend for Buying

opportunity.

APX 4.60 4.65 -1.1% 4.57 5.00 1% 9% Neutral/Selling 4.55

Trying to build upside momentum but volume

very low. May find

bottom at current level.

No Buying opportunity until upside

trend is confirmed on

higher volume.

AR 0.0044 0.0046 -4.3% 0.0042 0.0046 5% 5% Neutral/Selling 0.0042

Must hold current level

or then targets P0.042.

Break of support

cancels Buying opportunity.

AT 17.46 17.44 0.1% 17.10 18.00 2% 3% Neutral/Buying 18.00

Failure to break/hold P17.50 is negative and may

signal downside

trend.



BDO 60.90 61.25 -0.6% 59.00 62.50 3% 3% Neutral/Selling 63.00

Needs break/hold of P62 to

then target P64.00. Upside

momentum is

weakening.



BEL 4.77 4.80 -0.6% 4.75 5.00 0% 5% Neutral/Selling 4.90


is low. Bouncing

P4.80 Pivot price area.

Wait for confirmed

uptrend for Buying

opportunity.

BPI 78.60 77.05 2.0% 72.30 80.00 8% 2% Buying 80.00

Break/hold of P78 is

positive for move to

P80. Good upside

momentum on higher

volume but watch for top above

P78.50.



CEB 56.80 59.60 -4.7% 55.00 62.00 3% 9% Selling 54.00 Trend is

now negative.

Failure to hold P59 cancels

Buying opportunity.

CHIB 53.15 56.80 -6.4% 52 56 3% 4% Neutral/Selling 52

Top at P60 area turned

price to negative

trend. Look for bottom at support

area.

Break below support

cancels Buying opportunity.

CMT 2.54 2.44 4.1% 2.33 2.60 8% 2% Neutral/Selling 2.60

Bouncing P2.50 pivot price area

but trying to build

momentum for move to

P2.60.

Very Speculative



CPG 1.47 1.50 -2.0% 1.44 1.60 2% 9% Neutral/Selling 1.43

Trend is now going

negative on higher

volume. Needs to

hold current level or then

targets P1.40.


failure to break/hold

P1.50.

CPM 1.11 1.08 2.8% 1.08 1.16 3% 5% Neutral/Buying 1.16

Upside momentum is growing

stronger but must hold

P1.08. Reached

P1.16 target.

Speculative Buying

opportunity for move to P1.26 but


CYBR 0.80 0.79 1.3% 0.78 0.87 3% 9% Neutral/Buying 0.82


is low. Watch for increasing volume to push price

higher.

Wait for confirmed

uptrend for Buying

opportunity.

DIZ 23.95 22.00 8.9% 22.50 25.90 6% 8% Neutral/Buying 25.90

Problem building upside

momentum because of

Selling pressure

above P25.00 but volume is building.

Needs break/hold

of P25.50 to move

higher.

Very Speculative


P32.00 because of

good Risk/reward.

Watch Support and

volume.

DMC 58.30 58.05 0.4% 55.50 59.25 5% 2% Neutral/Buying 60.00

Range bound

between P55 and

P60. Needs break/hold of P59 to

then target P60+.

Building upside

momentum.

Speculative Buying


watch Support and potential for near term top at P60.00.

EDC 6.07 6.10 -0.5% 5.70 6.25 6% 3% Neutral/Selling 6.20

Failure to break/hold

P6.20 is negative and may signal a trend

change to the

downside. Must hold P6.00 or

then targets P5.80.

Speculative Buying


watch Support and potential for near term top at P6.20

area.

EEI 8.08 7.76 4.1% 7.50 8.20 7% 1% Buying 8.25

Break/hold of P8.00 is positive for

move to P8.25.

Speculative Buying



ELI 0.83 0.84 -1.2% 0.78 0.85 6% 2% Neutral/Selling 0.82

Trend is neutral on

lower volume.

Price could spike quickly

to the upside if

volume also spikes.

Buying opportunity canceled on


P0.85.

EW 21.80 22.00 -0.9% 21.00 24.00 4% 10% Neutral/Selling 21.50


P22 is negative.


P25.00. Watch support and

volume.

FDC 4.14 4.10 1.0% 3.85 4.25 7% 3% Neutral/Buying 4.20

Building upside


Speculative Buying


P4.30. Watch volume

carefully.

FGEN 19.02 18.62 2.1% 18.00 19.25 5% 1% Neutral/Buying 19.50

Building upside

momentum on higher

volume for move to

P22. Look for short

term move to P18.70.

Speculative Buying

opportunity for move to P22. Watch

volume carefully.

FLI 1.35 1.33 1.5% 1.30 1.35 4% 0% Buying 1.40

Needs break/hold of P1.35 for

move to P1.42.

Speculative Buying


P1.40 because of good

Risk/reward. Watch

Support and volume.

FOOD 1.72 1.60 7.5% 1.66 1.80 3% 5% Neutral/Buying 1.75

Needs break/hold of P1.60 to then target P1.70. But watch for

top at P1.80.

Speculative Buying



volume.

FPH 78.30 78.00 0.4% 75.00 80.00 4% 2% Neutral/Selling 80.00

Upside momentum

is getting weaker.

Watch for move to

P77.50 area.

Speculative Buying



volume.

GEO 0.59 0.58 1.7% 0.55 0.60 7% 2% Neutral/Buying 0.60

Needs break/hold of P0.61 to then target

P0.68. Building upside


Speculative Buying



volume.

GERI 1.94 1.99 -2.5% 1.90 2.05 2% 6% Neutral/Selling 1.92


P2.00 is negative.



volume.

GLO 1,136 1,160 -2.1% 1,090 1,180 4% 4% Neutral/Selling 1,200

Failure to break/hold P1,150 is negative. Needs to

hold P1,125 or then targets P1,105.


P1,200. Watch Support and

volume carefully.

GMA7 9.73 9.87 -1.4% 9.60 10.20 1% 5% Neutral/Selling 9.68

Trying to build upside momentum for move to P10.20 but must hold

current level or then targets P9.50.

Very Speculative



volume.

GREEN 0.016 0.016 0.0% 0.0150 0.0170 6% 6% Neutral/Selling 0.017

Must see volume follow

through to push price to P0.019.

Speculative Buying



volume.

GTCAP 550.00 563.00 -2.3% 540.00 575.00 2% 5% Neutral/Selling 560

Pullback to P550. Watch

for short term move to P540 if volume

decreases.


P570 but watch Support

and volume.

ICT 70.00 69.65 0.5% 65.00 72.00 7% 3% Neutral/Buying 72.00

Building upside

momentum but volume must stay

high to move to P74.00.

Speculative Buying

opportunity for move to P74. Watch Support and

volume.

ION 0.63 0.62 1.6% 0.60 0.66 5% 5% Neutral/Buying 0.65

Range bound

between P0.60 and P0.65 but trying to

build upside momentum.

Speculative Buying



volume.

ISM 2.96 2.99 -1.0% 2.91 3.05 2% 3% Selling 2.90 Trend is

negative.

No Buying opportunity until trend

turns to the upside.

JFC 100.00 101.40 -1.4% 97.25 102.50 3% 3% Neutral/Selling 105.00


P104 is negative.

Speculative Buying


P107.

JGS 33.95 34.20 -0.7% 32.50 35.00 4% 3% Neutral/Buying 36.00

Needs break/hold of P34 and

more volume to

then target P36.

Speculative Buying


P36.

LC 1.19 1.25 -4.8% 1.16 1.28 3% 8% Neutral/Selling 1.30

Failure to hold P1.20 is negative but

higher volume will push price

higher.

Break below support

cancels buying opportunity.

LIHC 1.06 1.05 1.0% 1.01 1.14 5% 8% Neutral/Buying 1.10

Needs break/hold of P1.10 on increased volume to

then target P1.25.

Trying to build upside momentum.

Speculative Buying


P1.27. Watch Support and needs more

volume.

LPZ 5.47 5.33 2.6% 5.35 5.60 2% 2% Neutral/Buying 5.50

Trend is positive but

upside momentum

is weakening

as price moves to

P5.60.

Speculative Buying


P5.80. Watch Support and for potential

top above P5.60.

LR 7.65 7.59 0.8% 7.25 7.75 5% 1% Neutral/Buying 7.55

Upside momentum weakens as price moves

above P7.75. Look for potential pullback to

P7.50.

Very Speculative



volume.

LRI/RCM 9.35 9.48 -1.4% 9.00 9.50 4% 2% Neutral/Selling 9.50

Range bound

between P9.00/9.50 but getting

for a breakout

probably to the upside

because volume is growing.

Speculative Buying



volume.

MA 0.060 0.062 -3.2% 0.059 0.065 2% 8% Neutral/Selling 0.064

Needs break/hold

of P0.063 to then target P0.065 and

higher. Trend is

starting to turn

negative. Must hold

P0.60.

Speculative Buying



needs volume to remain

high.

MARC 2.27 2.28 -0.4% 2.25 2.50 1% 10% Neutral/Selling 2.25

Range bound

between P2.30/2.40

but trying to build upside momentum.

Speculative Buying

opportunity for move to P2.40 but must have increasing volume.

MBT 91.00 93.75 -2.9% 88.35 95.90 3% 5% Selling 95.00

Range bound

between P90/95. Trend is turning

negative on failure to

break/hold P95. Needs break/hold of P95 to

then target P100.


failure to hold P93.

MEG 2.21 2.24 -1.3% 2.15 2.28 3% 3% Selling 2.20


P2.25 is negative. Trend is

now downward for move to

below P2.20.



P2.28.

MER 261.20 259.00 0.8% 255 265 2% 1% Buying 270.00

Building good upside momentum

for move above P275.

Volume must stay high and

must hold P250.


P273 but must have

increasing volume.

MPI 4.11 4.21 -2.4% 4.05 4.20 1% 2% Selling 4.07

Failure to hold P4.20 is

negative and trend is weakening. But will find bottom in

P4.05 area.


failure to hold P4.20.

MWC 26.80 27.00 -0.7% 26.20 28.00 2% 4% Selling 26.20

Trend is turning

negative on failure to

break/hold P28.

Very Speculative


P30 but watch Support and

volume.

NI 8.08 7.30 10.7% 7.85 8.30 3% 3% Buying 8.50

Reached upside

target of P8.00 and

now targets P8.80 if volume

increases. Watch for

top at P8.75 area. Needs

to hold P8.00 area.

Speculative Buying



NIKL 18.12 18.40 -1.5% 17.80 18.75 2% 3% Neutral/Selling 18.00

Must hold P18. Trend is turning negative.

Speculative Buying


P20 but watch Support and

volume.

ORE 4.83 4.53 6.6% 4.60 5.00 5% 4% Buying 5.00

Building upside

momentum for move to

P5.25 if volume

increases. Must hold

P4.75.

Very Speculative

Buying opportunity for move to P5.25. But


OV 0.049 0.052 -5.8% 0.048 0.055 2% 12% Selling 0.047

Failure to hold P0.05 is

negative and may

signal trend change to

the downside.



PAL 7.39 7.54 -2.0% 7.15 7.60 3% 3% Selling 7.20

Failure to hold P7.50

changes trend to the downside.


failure to hold support.

PAX 2.76 2.89 -4.5% 2.75 3.06 0% 11% Neutral/Selling 2.68

Failure to hold P2.85

changes trend to the downside.



PCOR 10.26 10.60 -3.2% 9.70 10.75 5% 5% Neutral/Selling 10.00

Failure to hold P10.50 is negative and may signal a trend

change to the

downside.



PGOLD 30.00 30.10 -0.3% 28.75 31.00 4% 3% Neutral/Buying 32.00

Upside momentum is good but needs more volume for

move above P32.00.

Must hold P29.50.

Buying opportunity

for break above P32.00

but watch Support and

volume.

PNB 70.70 70.00 1.0% 67.00 73.00 5% 3% Buying 72.00

Trying to build upside momentum but upside limited to P75.00.

Volume is building.

Buying opportunity

for break above P75.00

but watch Support and

volume.

PNX 8.15 8.19 -0.5% 8.00 8.60 2% 6% Neutral/Buying 8.50

Trying to build upside momentum but needs break/hold of P8.50 on

higher volume. Range bound

between P8/8.25.

Speculative buying


P8.50. May go up quickly on volume spike.

PX 14.82 15.78 -6.1% 14.00 16.00 6% 8% Selling 14.50

Failure to break/hold P16 turns

trend to the downside.



PXP 25.75 32.90 -21.7% 24.25 28.00 6% 9% Selling 24.80

Failure to hold P31 is negative.

But may find bottom at

P24.50 area.



RCB 44.50 43.45 2.4% 41.80 45.50 6% 2% Neutral/Buying 46.00

Range bound

between P42 and

P45. Break/hold

of P44 is positive for move above

P48 but needs

increasing volume.

Speculative buying

opportunity for move

above P48. May go up quickly on

volume spike.

RFM 3.95 4.02 -1.7% 3.90 4.15 1% 5% Neutral/Buying 4.00

Bottom at P4 area is strong and trying to

build upside momentum. Must hold

P3.90.

Wait for confirmed

uptrend for Buying

opportunity. But if volume

quickly increases,

price will go higher.

RLC 18.18 18.44 -1.4% 17.50 19.00 4% 5% Neutral/Selling 18.00

Range bound

between P18/19. Trying to

build upside momentum but needs break/hold

of P18.50 to then target

P19.30.

Wait for confirmed

uptrend for Buying

opportunity. But if volume increases over several days, price will go

higher.

SCC 220.00 224.20 -1.9% 215 231 2% 5% Neutral/Selling 218

Needs break/hold of P225 to then target P232. Must hold P220

area or trend will

turn negative.

Very Speculative


P240 but watch Support

and volume.

SECB 158.30 163.60 -3.2% 155 170 2% 7% Neutral/Selling 154


P160 is negative and may signal a trend

reversal to the

downside.

Speculative buying

opportunity for break

above P170 but watch

Support and volume.

SGI 2.00 2.05 -2.4% 1.85 2.15 8% 8% Neutral/Selling 1.80

Downside momentum is starting to

grow. But may find a bottom at

P2.00.



SINO 0.320 0.315 1.6% 0.30 0.32 6% 0% Neutral/Buying 0.33

Trend is neutral and

may find bottom at

current level.



SLI 0.67 0.70 -4.3% 0.66 0.72 1% 7% Neutral/Selling 0.65


P0.70 is negative and may

signal trend reversal to

the downside.



SM 727.50 736.00 -1.2% 722 750 1% 3% Neutral/Selling 720


P750 is negative. Must hold

P720 or then targets

P708.



SMC 110.80 111.70 -0.8% 110 116 1% 4% Neutral/Selling 110 Trend is slightly

negative.

Wait for confirmed

uptrend for Buying

opportunity. Risk/Reward is not favorable.

SMDC 6.03 6.14 -1.8% 6.00 6.40 0% 6% Neutral/Selling 6.00

Price is range bound

between P6.00/P6.20.

Must hold P6.00 or

then targets P5.85.

Wait for confirmed

uptrend for Buying


SMPH 13.82 13.94 -0.9% 13.50 14.60 2% 6% Neutral/Selling 14.50

Pivot price is P14.00 area.

Must hold P13.75 or

then targets P13.40.



P14.

STR 3.95 3.97 -0.5% 3.85 4.05 3% 3% Neutral/Selling 4.15

Upside momentum

is weakening

on failure to break/hold

P4.00.


failure to break/hold P4.

SUN 0.51 0.51 0.0% 0.51 0.58 0% 14%


range bound between

P0.50/0.55.

Wait for confirmed

uptrend for Buying

opportunity. Risk/Reward

is not favorable.


range bound between

P0.50/0.55.

Wait for confirmed

uptrend for Buying


T 2.17 2.19 -0.9% 2.00 2.20 8% 1% Neutral/Buying 2.15

Break/hold of P2.20

would signal upside

momentum if volume increases.

Wait for confirmed

uptrend for Buying


TA 1.19 1.17 1.7% 1.15 1.20 3% 1% Neutral/Buying 1.22

Needs break/hold of P1.20 to

signal upside

momentum.

Wait for confirmed

uptrend for Buying


TEL 2,810 2,870 -2.1% 2,777 2,925 1% 4% Neutral/Selling 2,900

Failure to break/hold P2,900 is negative. Must hold P2,800 or

then targets P2,760.



P2,900.

UBP 104.50 103.90 0.6% 101.00 106.00 3% 1% Neutral/Selling 105.00

Pivot price area is P105.

Failure to break/hold P106 turns

trend slightly

negative. Needs more

volume.

Buy on break/hold of P105 to then

target P110/115/120.

Good speculative

play if broad market and

PFINC continues to

go higher. Watch

volume.

URC 63.95 62.50 2.3% 60.00 65.00 6% 2% Neutral/Buying 67.00

Building upside

momentum on higher volume. Needs

break/hold of P65 to

then target P70.

Speculative Buying

opportunities for move to P70.00 but

watch Support and volume

very carefully.

VLL 4.90 4.51 8.6% 4.70 5.15 4% 5% Neutral/Selling 5.25

Strong upside

momentum with

break/hold of P4.50. Volume

must remain high to target P5.25.

Speculative Buying

opportunities for move to P5.25 but

watch Support and volume

very carefully.

VUL 0.92 0.92 0.0% 0.90 0.95 2% 3% Neutral/Selling 0.90

Trend is neutral with

slight downside

bias on low volume.



WEB 16.98 17.00 -0.1% 15.50 17.25 9% 2% Selling 16.50

Strong top at P17.00 may cause downside reversal.

No Buying opportunity

until Resistance at

P17.00 is taken out.

PSEi 5292.06 5322.47 -0.57% 5,280 5,400 0% 2% Neutral/Selling 5,220

Must hold current level

or then targets 5,220.

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 -September 23,2012

Documents

Transcript of PSE Strategy Guide -September 23,2012