Weekly Maginot Line Defense Was 26% More Than Nominal Weekly Change In the PSEi!

Yet another manic marking the close day!

Index managers must be getting so antsy or apprehensive for them to egregiously step up on inflating the index via the orchestrated and manipulated pumps

 

The top left pane shows of the pre-runoff price and price actions which the Bloomberg chart below confirms while the top right pane exhibited the incredible erasure of the .47% loss to just .12% at the day’s close!

Truly awesome!

ONLY IN THE PHILIPPINES!!! 

 

These pumps were concentrated on the holding sector while the service sector provided the icing. 

Of course other issues from other indices participated but signified less importance.

The price manipulator’s favorite the biggest market cap SM with 10.69% market share of the PSEi basked essentially delivered salvation to index with 1.1% surge to turn water into wine! Down .95%, magic closing ensured SM generated a positive .15% for the day!

JGS closed down 1.58% today which means the pre closing pirouette had JGS down 2.4%!

AEV slipped .26% for the day. But that’s because the .9% marking the close sheared off 77.55% of the day’s losses!

Other issues like AC, JFC, and TEL had minor pumps but was partly offset by a dump on URC

For the entire week, marking the close contributed to a magnificent 107.47 points! Meanwhile the Phisix dropped by 1.08% or 85.26. The weekly marking the close was 26% larger than actual nominal results!

Since again, the aggregate nominal number of marking the close was larger than actual numbers (107.5 vis-à-vis 85.26) this means that the headline index would have likely fallen much further. And thanks to the index managers, losses had been contained and the PSEi remains at 7,850 and within striking distance off the Maginot 8,000

 

Of course this also means that based on official PER (based on 2015 eps), even while the Phisix was down 1.08%, marking the close helped pushed the average PER higher by .25% to 27.27 while the market share weighted PER was slightly trimmed from the HISTORICAL 28.5, which again has surpassed 1997 highs to 28.49!!!!

There is no free lunch. The cost of interventions have been to drive up valuations farther from reality.

It’s a wonder, will the PSE publish these numbers in the BSP pages as is? Or will they “massage” to temper these numbers?

History is indeed in the making!

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.