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.

Defending Maginot 8,000 Log August 22, 2016

Only in the Philippines!

 

Another session dictated by an astounding afternoon delight pump which climaxed with a furious marking the close.

Yes 32.44 points or 64% of the 50.46 points or .64% gains today was a product of price fixing pumps.

 

Firms from four sectors delivered the kernel of the day’s gains

And these firms are represented by the below…

As if these major market caps were so choreographed, ala synchronised swimming, that even price changes from pre-market intervention phase to the runoff had almost registered similar .8% gains

These pumps are manifestation that there are lots of crooked things that seem to be happening not only in price setting function of the stock market but in the corporate world

And the defense of the Maginot Line has been intended to masquerade all these.

The Ad Hominem Based Politics of the Populist Superhero Effect: Shifting the Blame on the UN

Argumentum ad hominem, defined by Wikipedia, is a logical fallacy in which an argument is rebutted by attacking the character, motive, or other attribute of the person making the argument, or persons associated with the argument, rather than attacking the substance of the argument itself (bold mine)

Today’s headline. From GMA (bold mine)

President Rodrigo Duterte threatened to "separate from the United Nations" amid continuing criticism from rights experts over the rising death toll attributed to his administration's campaign against drugs.

Duterte made the pronouncement early Sunday morning following a statement from UN special rapporteurs Agnes Callamard and Dainius Puras calling on the Philippine government to stop the extrajudicial killings of persons linked to illegal drugs.

"Maybe we'll just have to decide to separate from the United Nations. When were you here the last time? Never. Except to criticize," he said.

The issue is certainly NOT the UN.

But the focus has been shifted to the UN in order for the latter to take the heat for censuring the government. This has been designed to deflect on the argument or the object of criticism. It is a sign of logical infirmity. It is also a sign of the administration’s emotional paroxysms. And most importantly, this represents intolerance for diverse opinion.

As for anyone who criticizes the government, the mechanical response by the administration has been to burn the critics as though they are witches during the witch hunt era. For now, the response have been about isolationism. Don't like my way then we leave (applies to UN or media in June). Eventually things may turn out worse. 

Of course, this has been channeled through the politics of populism through trial by publicity.  

Once again the politics of populism has been founded on the superhero effect, which also finds roots on the halo effect. For avid followers anything said by this administration represents gospel truth. The administration, thus is, infallible and morally immaculate therefore above the institutions

For now this things work. Eventually they won’t. The law of diminishing returns ensures this.

As for the issue of leaving the UN, that may be a good proposition.

Instead of a collegial body pretending to work for the interest of the world, the UN have signified as an instrument of hegemonic powers designed to intervene in local affairs to promote the former's interest. Example, UN proposes a uniform global tax regime and a global tax authority intended to remove tax competition. Doing so prevents firms from moving out of bankrupt western nations and places the onus or discriminates on emerging markets.

But then again the issue is NOT the UN.