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I was unaware that there will be a long weekend in the Philippines(this is the hassle of being employed in another country).
The following days are both non-trading day for the Philippine Stock Exchange:
August 29, 2011 (Monday) National Heroes Day
August 30, 2011 (Tuesday) Eid’l Fitr (Feast of Ramadhan)
Such time period might have an effect on the stock market on its opening on Wednesday. Some traders are already decided on which stock they will buy and which stock they will sell. For investors with the past weeks jitters on the Dow moving up and down will be picky. But nonetheless it is still a good time to buy since most stocks are still at their low just be on the look out if it will still slide down further.
Mining has been performing well while the rest of the other sectors are sluggish. It is the also the end of Ghost month so when the Asian funds start to buy in there will be a stock movement.
To all my fellow Pinoys enjoy the long weekend and be careful with the storm.
About the blogger
Louis Delos Angeles is a Certified Public Accountant, blogger behind Investing in Philippines, and author of Investing in Stocks: Preparing for the future small amount at a time. Learn more about Louis and his financial freedom advocacy here.
Absolutely majority of the stocks are at their lowest level, Tricky situation.
That is right we still dint know if stocks are still gonna slide further down or has reached the bottom… lets see come Wednesday for the Philippine Stock Market