From time to time, I’d like to make an update of the Philippine Stock Market so as to update my clients in mutual funds and AAFP followers.
I must say that the day – March 17, 2011 ended in a bloodbath, massacre – almost all stocks in my watchlist registered red figures meaning down. At some point, I was tempted averaging down my position on TEL as it registered its 52 week low of 2,000 and closed at 2,014. I think this is not the end of it as also confirmed by my mentor. Hopefully, next week will show signs of recovery.
PSEi closed at 3,817.38 – down by 61.06 points from yesterdays closing. I think, the bloodbath will continue the next day as DOW registered a negative 2.04 from its last closing. Not only that, Nasdaq, S&P500, H.Seng and Nikkei – all registered red values. I wonder when will these stop.
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