PSEi 7,866: Because the Maginot PSEi 8,000 Line Was In Grave Peril, Massive Countermeasures Had To Be Taken!

The PSEi fell by as much as 101.18 points or 1.27% going into the LAST SECOND before the market intervention transition phase (see right). However, 32.13 points or a about 31% of the 1.27% deficit had been slashed during the runoff period due to a remarkable “marking the close” pump!

 

Desperate times calls for desperate measures.

Index managers have become so frantic to defend the Maginot 8,000 line that they have engaged market manipulation in such egregious fashion.

Firms from four industries were used to prop the index up through a loss mitigation operation.

 

HUUUUUUUUUGGGGGGGGEEEEEEEEE pumps occurred on JGS, BDO and ALI which saved the PSEi from deep losses!

Note in the above that JGS was pushed by an eye-popping 2.3%!!!! JGS closed the day down 3.8%! This means that the issue CRASHED by as much as 6.1% before the save by the bell actions from index managers!!!!

BDO closed down .61%. This also means that the issue was in the red by as much as 1.67% prior to the marking the close!

ALI closed the day at an enormous 1.96% deficit. This likewise means that the marking the close of 1.01% reduced ALI’s losses from a staggering pre-market intervention quasi price collapse of 2.97%!!

PLDT’s red suddenly turned into green due to the .7% pump. PLDT closed the day marginally up by 0.06%!

Water miraculously turned into wine!

These synchronized actions were palpably designed to keep the PSEi index from falling below the 7,890 support. Nonetheless the above had just not been enough. Because the support seems to have been broken. I am no fan of charts but a sustained upside failure would entail a very nasty humongous-portentous bearish chart pattern called DOUBLE TOP. 

Thus expect even wilder coordinated pumps tomorrow (or soon) to push the PSEi back to 7,900!

Of course, since the cost of price fixing is low, then price fixing activities continue to proliferate.

 

Marking the close was also seen yesterday August 23, albeit a minor one. Reason for the muted impact? Because one pump was offset by a contrasting dump. Or a pump JGS was partly negated by a dump on TEL. By the way, JGS's +.7% pump was helped by SM’s .43% push

Notice that those who pumped JGS yesterday suffered a hemorrhage today. Of course, the assumption has been that these are temporary.

Price fixing of this brazen nature….Only in the Philippines!!!!!!!!!

And surely beneath these price fixing activities lies a horde of cans of worms waiting to be unearthed.