The Philippine benchmark threatened
to close at last Thursday’s 7,505.03 level. But given the seeming sensitivity
to territorialism, perhaps market riggers see 7,500 as the last remaining buffer-bastion
dividing record Phisix and its doom and thus requiring a massive stand.
Unlike the recent days where their maneuverings
seemed to have hardly worked, this time market manipulators employed a last
minute combo blitzkrieg of the afternoon delight pump + marking the close pump--in a very short span or burst of time--to bring the
Phisix from a deep red to positive grounds.
Intraday the Phisix breached 7,500
(7,498.1). That was during the am session. Although bulls managed to fight back
to put some cushion from the 7,400 nexus. (charts courtesy of colfinancial and technistock)
At the pm session, bears kept bulls
from an early afternoon push. Bulls appeared to have even lost ground to fumble
back to 7,510 (-.55%).
With just 10+ minutes before the pre-market segment
which divides the regular and the runoff session, index managers mounted on a
full scale pump on key issues on all major sectors. This climaxed with a
massive marking the close!
Essentially, manipulators erased the
pm low of -.55% and even added +.13% representing today’s closing gains for a
total of an incredible .68% pump!
As I have been saying here, there will be no record without those manipulated pumps.
The pump comes with a light volume of Php
6.86 billion. To add special block sales this would total Php 7.12 billion.
Interestingly
despite the massive pump, the bears had been in control of the market: losers
thrashed gainers 102 to 74! (PSE June 3 quote).
As a reminder, record Phisix has been about a 15-20 issue rotational headline management pumps in the face of half of the population of listed issues in BEAR markets!
So despite all the move to manage the
headline, bears remain lurking at the shadows.
Just look at the awesome coordinated
panic buying!
And these signify the four major issues that delivered
the gist of the last minute pump!
Record Phisix or a colossal sham from market manipulation?
4 comments:
The three stages of a bull market: the first, when a few forward-looking people begin to believe things will get better, the second, when most investors realize improvement is actually taking place, and the third, when everyone concludes things will get better forever.
The three stages of a bear market: the first, when just a few thoughtful investors recognize that, despite the prevailing bullishness, things won't always be rosy, the second, when most investors recognize things are deteriorating, and the third, when everyone's convinced things can only get worse.
Howard Marks
Hi Bing
I wonder why you keep sending me quotes, although I'd like to thank you for it.
Here is a concise one from the legendary John Templeton: Bull-markets are born on pessimism, grow on skepticism, mature on optimism and die on euphoria
Haven't today been characterize by "everyone concludes things will get better forever"? Who among the mainstream have represented "few thoughtful investors recognize" the bear market?
Think of it. When people get their egos hurt because of what I write about that goes beyond their linear expectations of a boom, hasn't these been a sign of euphoria?
What you mention is the psychological aspects of the stock market cycle. But psychology is only part of this.
Again thanks for the quote. But perhaps you need to absorb it more than I.
Thanks for your patronage and best regards,
Benson
?
When everyone concludes things will get better forever. We are not there yet.
Mr Garcia,
Im sorry but that's your opinion. Although you are entitled to your opinion even if they are dead wrong.
It's really naive for you to believe in the literal sense that "everyone" has to chime in for this to happen.
Just look at the quote you sent me: the third, when everyone concludes things will get better forever...next... and the first (bearish stage), when just a few thoughtful investors recognize that, despite the prevailing bullishness, things won't always be rosy...
So what or how should one distinguish the third bullish stage from the first bearish phase? Do you know? What are the parameters? Or do you REFUSE to know?
The PSE has even celebrated 8k in pictures. Perhaps you are a neophyte. But when this kind of stuff happens and when all publications are bullish then this marks the third bullish phase which overlaps with the first bearish stage.
You can't even seem to reconcile the quote you have sent to me with your beliefs and reality.
Hey Bing, I'm grateful for you to come and visit my site.
But if you do not have anything constructive to offer but to troll, then there are many other sites to entertain and confirm your bias. You don't have to visit or read me.
And you can hope for all you want but don't forget reality will prevail.
Benson
P.S Again if you have nothing to offer then I will just send your future messages to the spam box.
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