Some entity or entities have been so very peeved or upset by the string of losses that they decided that they had to do something in order to ease their emotional baggages.
The PSEi bled by as much as 1.8% early morning, halved those losses by mid afternoon.
The PSEi was down by about 43 points or .64% a minute before the runoff…then…
TADA!
Marking the Close!
The fantastic .81% swing transformed NEGATIVE .64% PSEi to suddenly close UP by +.16%!
See how down is UP, low is HIGH, less is MORE?
Well the PSEi’s .8% ramp has mainly been from a two stock pump!
SMPH’s 8.25% surge to a new record high was a product of a stunning last minute 4.8% pump!
In short, 58.2% of SMPH’s breathtaking gains came from price fixing!!
SMPH holds the third largest market cap weighting in the PSEi.
Even more astounding was GTCAP’s late minute acrobatics.
GTCAP rocketed by the 5.09% from a last minute push! The closing bell pump accounted for a whopping 82% of the day’s 6.2% ramp!
SMPH’s magnificent gains pushed the property index by 1.19%! Meanwhile, GTCAP’s heroics powered the Holding firms gains (along with AC) by 1.16%
Also notice that ALI slumped by 3.24% today. Ironically, last Friday, ALI was pumped at the last minute by 1.5% to post a 2.6% gain. Today's losses means that not only has ALI given up all of Friday’s manipulated advances, it has surrendered 78% of last week’s 4.11% advances!
If ALI’s performance serves as a guide then those last minute pumps won’t last.
Moreover, the broad market reveals how it was a bloodbath for most issues today as decliners led advancers by 121 to 43--or 2.8 issues down for every 1 up.
Peso volume again shriveled to Php 4.97 billion (all images above from PSE and colfinancial)
Yet today's frantic pump clearly exhibits the intensifying desperation (denial phase).
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