After all the negativity that lurked in the stock market(and I guess it is still lurking out there in Europe), the Philippine Stock Exchange is again in the positive and 5,000 level area.
One of the stocks everybody would probably want to have in their portfolio is TEL(PLDT). I once posted here about TEL’s not so stellar performance in 2011, when PLDT chairman Manuel V. Pangilinan announced in their FY 2011 Core Income Reports that they are not expecting to have a very bright 201 and even maybe in 2012 but rather see this as a period of re-alignment in connection to PLDT’s acquisition of Digitel. And as everyone knows, PLDT’s share have gone done to as low as 2300 levels for the past months which believe was mainly due to the issue on the capital requirements which finally resolved.
Looking at the chart today I see some sudden rise in the past 3-4 days even in the midst of the turmoil in the stock market world.
When I read and have seen that PLDT started to go south I started buying blocks of shares to take advantage of the low price of this blue chip but having to chunk out huge portion of your portfolio did have a drawback. One is that I missed out profit taking on small stocks that went up during those bearish months. Another is that PLDT’s share price didn’t really drop at an instant but slowly thus I ended up not effectively cost averaging and have to stop buying when TEL was nearly 50% of my portfolio.
A little more and I can see the fruits of my patience.
Some good news I am hearing are below:
- PLDT’s branding alliance with SM
- PLDT sees better second half of 2012
- PLDT eyes TV station in Indonesia
With that, I guess PLDT is again positioned to achieve its stellar performance in 2010 of having an all time high net income of 42 billion.
As for me I am crossing my fingers and hope that in the coming months my patience pays of with TEL.