Yes I think this is official.
After all the bad weather, current political situation, and economic woes here and there it seems that the whole stock market is now going to a bear market. It is something I am stuck for quite some time. For the past months now I have not been trading due to unfavorable stock prices.
So what could we do about it?
Well just like in my old posts if you got money and can go bargain hunting that is great. those who have reserved their funds for this are really lucky. They can now enjoy to buy blue chips at low prices. As far as fundamentals is concern, Philippine corporations are stable and profitable. One factor everyone is looking into is the PDAF(Pork Barrel) issue. If such will be resolved and the persons responsible for it will be caught and be made to answer, the confidence in the Aquino administration will surge and we are hoping this will turn Philippines once more as the “Bright Spot in Asia”.
On the other hand if you are like me,stuck with the current status, I would hold on to my portfolio instead of selling at a huge loss. It is already saddening to hear or see you have a loss and even so it is juts a paper loss it would take a long time to get back. But that is better than losing much right away. What we could do is wait for a favorable prices either to sell at breakeven or at least get some profit.
Let’s hope for a better weather for the rest of the year and also that the geopolitical situation in the Philippines and everywhere else get better that way we can go forward with this and look for another stellar year end for the Philippines.