In order to prevent the domestic stock market from presenting itself as a blowoff top phase, chart formations would have to be managed.
Also, since the stock market has been presented as the politically correct way to interpret the “economy”, the stock market has to go up. And so it is being made to go up--through anomalous means.
So Team Viagra frequently goes to work in order to fulfill such mission.
For today’s action, the Phisix was down by about 80.74 points or by 1.09%, when a last minute pump virtually erased a stunning 56.9% of the day’s losses!
The Viagra effect as seen from different platforms
With the exception of mines, all mainstream sectors participated in the "marking the close" pump.
And the sectoral representation had been led by their respective heavyweights as shown above. Except for SMPH, which was unchanged at the pre-market close period to suddenly skyrocket 1.81%, the three indicated issues had their respective losses significantly pared.
Nevertheless, I will keep emphasizing that one of the principal reasons why crashes occur has been due to such manipulations. Manipulations distort or destroy the fundamental function of prices to efficiently coordinate the economic/market process.
And as stated before, my purpose for such postings has been to document irregularities for posterity. Such that this may serve as lesson to future generation practitioners: There is no such thing as a free lunch; perversion of the marketplace will have incite a blowback or will backfire.
Yes, the session end Viagra syndrome can be seen "ONLY in the Philippines"! And yet that seems to be the secret formula on how the Best Stock Exchange in ASEAN has been achieved.
Similarly this is why with Team Viagra, “it's definitely more fun in the Philippines!”
Note: figures/images from colfinancial.com, Bloomberg, PSE and technistock.net.
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