Almost P1 billion net foreign selling today and it doesn't seem like they are done with their selling already. Believe it or not, but we are still in "the calm before the storm", in the weekly chart that is. Last day tomorrow to place your bets before the coming "storm" on Monday.

Did ABS/ABSP bottom out in the medium-term?

JAP resigned as Board of Director in NI? I wonder if the investigations have anything to do with this. Although he resigned in paper, I doubt if he really resigned. My own conspiracy theory.

GDP figures were announced today and they were better than expected but why did the market sell-off? Something is obviously not right about this market.

Although the PSE is in a short-term rally right now, world markets are once again in "the calm before the storm". Bernanke on Friday should be the trigger for a coming big move either up or down. Place your bets!

GREEN was one of the top gainers of the market today due to news regarding a buyer at 2 cents. The question is, is there really a buyer at 2 cents and, if the buyers was really willing to buy at 2 cents, why is he so engrossed at buying it at that high a price? There are a lot of disclosed transactions in the market wherein the real amount of the transaction is disclosed at a premium to what the real amount of the deal was. No, I'm not saying that this is one of them but traders simply need to be aware of that fact.

EG formed a new low today. Could it be that the 2.3 billion cross transaction the other day is now being distributed in the market?

Strange as it may seem but BHI is moving in direct relationship with SGI while ABSP is also moving in direction relationship with CEB. Although they may be in different industries, they do have the same chart patterns and the market seems to be behaving accordingly.

Short-term bottom for the PSE today? Dow though seems be in a quandary as well. Whole world waiting for Bernanke on Friday.

I didn't understand why ETON went to the ceiling today. At P31M first half earnings, the stock is still trading at 77x PE.

Regis selling NI? I wonder what other funds got stuck at the highs and have yet to sell.

Below is the PSEi weekly chart from the beginning of the bull market last late 2008. From an Elliott Wave Principle point of view, Could that actually be a completed impulse wave already?

I'm quite certain that that move in 2009 to 2010 was a wave 3. It had all the characteristics of it. And, 2011 certainly looks and feels like a wave 4. Thus, 2012 is a wave 5 and it just ended a couple of weeks ago? Notice that, although prices are still trending up in wave 5, it is merely grinding higher.

P874 million net foreign selling today. In the last 9 days alone, they sold almost P4 billion worth. This sounds like a lot already. Just don't ask how much they bought year to date - P30 billion worth. Obviously, the PSEi is now behaving much weaker than the US. No, its got nothing to do with the ghost month. Funds are shifting!

I don't know if people will treat this as good news or bad news but ABA now appears to be a "JAP".

All the previous high-flyers are now dropping like flies. Can JAP sustain DIZ?

I bet quite a number of people got whipsawed in GREEN today. Yes, there may have been a sale at 2 cents but, in this environment, I would definitely sell at 0.018 if I bought this stock at 0.015 or lower.

Our market was one of the weakest markets in the world today, not only because ghost month starts tomorrow but also because we have a long weekend coming up. There will probably be some more residual selling by tomorrow but contrarians will most likely try their luck at the close.

With the earnings reporting season almost over and ghost month just around the corner, is the market now bound to fall? All I know at this point is that markets around the world, ours included, are currently at a standstill and are all in "the calm before the storm". I'm giving it a 50/50 chance on whether it will eventually go up or down.

With ALI doing an "MVP", he has now won the privilege of developing the FTI property. Now what? While this may be bullish for ALI in the long-term, it will probably take years before they actually make some money out of this investment. I'm quite surprised ALI and RLC hasn't really fallen that much yet up to now. What are you waiting for?! The hype is over.

A big foreign fund is doing a kamikaze move by buying tons of SGI at 12 year highs. I sure hope he knows what he is doing cause that certainly looks like a "sell" to me.

Is JAP back or is it time to sell JAP while there is liquidity and is now trading at the highs relative to prices 3 days ago? Is Macquarie a real fund entering JAP or is it just another done-thru of JAP who is also selling thru other brokers? Macquarie seems to be the favorite among "pushers" nowadays.

When you go to a casino, you hear of people hitting a jackpot and making tons of money. What you don't hear are the 90% of the people who go there that actually lose money. The market ain't that different right now. You see moves like BHI and SGI but you don't see the other 200 stocks that are either moving sideways or going down.

The only ones happy today are the holders of BHI. I have to admit, I am very much surprised at how strong this stock is but, will you still be happy if you are one of those who bought at 0.174?

Our market isn't the only one which is behaving quite erratically nowadays. After looking quite strong last Friday, the Dow is currently down by 94 points as of this writing.

Although the market did go up today, it's still quite a weird market. I see some stocks going up the roof, yet, I see some dropping like rocks.

TDY is still at it? I'm hearing valuations of 15, 20 and 25. I wonder which is the right one.

Whereas the whole market is near all time highs, mining is like in a bear market already.

I don't understand why buyers still pushed ABA up to 0.82 today. That seemed very illogical to me.

Market was a dud today. I'm not sure if that's a worrying sign or it's just a natural behavior, which we have been experiencing for quite sometime now.

A lot of people got caught in MJC today. I was hoping that that MJC/MJIC run-up could jump start the ceiling plays already. Unfortunately, because of what happened to those stocks today, I'm afraid ceiling plays are going to be rare once again. MJC today is like TDY like Friday. If so, MJC will do small rally tomorrow, just like what TDY did today?

Gatchi selling ACE at the lows? Or, could he just be showing that he is selling (broker 270) but is actually buying thru other brokers? I can't believe that the insider will actually sell ACE at these levels.

Strong rally in CAL today. Could it have formed a medium-term bottom at 5.20? Although it may have indeed, I wouldn't expect any uptrends yet for now.

A column in the PDI newspaper stated that a nickel company may be diverting its revenues to the pockets of its owners, thus, causing a mini panic among all the nickel stocks. It didn't mention which stock it was but, if I were to guess which one it is, I would guess that it would be ORE, given its weakness today.

Finally! The big run of TDY has ended. While this will certainly not drop back down to 5.00, it may consolidate/correct for now, especially given the big overhang above. Value turnover of TDY was a whopping P929 million. I wonder how much of that bought at 13.50 or higher and just held on to their positions. The nice thing about what happened to TDY is that it appears to have triggered the basura season. MJC/MJIC is next. The search is on for the next ceiling!

By the way, if CAL is the complete opposite of TDY, then, could it be that TDY formed a medium-term peak while CAL formed a medium-term bottom already?

TDY continued to power higher today and closed at the ceiling price once again. Value turnover of the stock was a whopping P600 million. I've been hearing some absurd valuations already and everybody now looking at nothing but up. I would start getting cautious in TDY tomorrow. I really doubt if will still go to the ceiling by tomorrow.

Try inverting the chart of TDY, doesn't that look like CAL? Rumors of investigation again. JAP stocks were affected by CAL as well but he certainly made a statement in NI.

The giant story of the day was TDY. Very rarely does one get to find a gem in the stock market like this one. From just being a liquor company, it will now be a holding company of El Kapitan. I have to hand it to the insiders of this stock. Everyone was just so tight lipped about it that I didn't know anything about it up until yesterday only. As early as mid-June, the technicals was clearly showing that something special was going on. I just didn't imagine that it was going to be this big of a news. The big question now is, what is fair value of the company? Obviously, there will be dilution but the added value of what is going to be injected into the company is outweighing any negative effects of the dilution. Technically, I just don't have a clue where this one is going next as it is now well above target. I saw some Lucio Tan-related brokers selling the stock today. That is but natural as they would tend to take advantage of the liquidity in order to sell but that doesn't necessarily mean that it's going to drop. I'm not sure who First Metro was though. I saw him hijack the opening and, I thought to myself, what a stupid fellow this guy is. At the end of the day, he was net seller by almost 3.5 million shares. Could it be that he simply hijacked the opening so that he could sell more on the way down? If that is so, he was actually a genius. I still don't understand why he is giving away free money in PXP though.