To be more precise, the market fell below its support level when it settled at 6,379.03 at the close of trading of the 27^th week. Exactly a week later, at the end of the 28^th week, it closed some 24.79 points higher at 6,624.79 from its longtime resistance level of 6,600.  

On the 29^th week, the market attempted to climb higher. All it could do was to establish a session’s high record of 6,698.04.  

Needless to say, this was almost 100 points higher from its technically rendered previous resistance point and now its new support line.  

Since then, the market is bobbing up and down within several points from the 6,600 level.  Its true direction has become quite obscure.  

Based on both technical and fundamental considerations, the resulting character of the market’s direction can be explained. The 400-point run-up has brought along opportunities for profit taking.  There was enough margin created to play with.  And because the market continued to be plagued by old uncertainties and lack of fresh leads, market participants had chosen to play swing trading.  Short term trades like swing trading could produce initial false signals that may obscure the true character of the market’s direction.  

Swing trading involves making trades for the short term. It is different from day trading, for as the term denotes it involves holding a position for just one day or less, as in a few hours or minutes. Swing trading typically takes a couple days, weeks or sometimes up to a few months in order to profit from an anticipated price move. 

Market’s true direction

It did not take long for the curiosity on the market’s true direction to sparked some discussions among market insiders this week.  

If you will remember, right after the market fell below 6,400 on the 27^th week, Trading Economics came out with the forecast the market may “trade below 6,300 by the end of this quarter.”  It also added, the market may “hit 6,000 in 12 months’ time” based on its global macro models.

Trading Economics is the US firm that provides market information for 196 countries including historical data and forecasts for more than 20 million economic indicators, exchange rates, stock market indexes, government bond yields and commodity prices.

Jofer Gaite, the president and chief trader of Westlink Global Equities, Inc., believes the market may just take a “rest” in the meantime. It will not drop to as low as what Trading Economics is forecasting. Instead, he estimates the market will continue to move sideways within several points below or above 6,600.  

This will continue until some new leads may come out to serve as catalyst for the market to ride on to resume its upward direction.    

Market strategist and chief trader of H.E. Bennett Sec., Joel Dela Peña, agrees with Gaite, but has more to say in the market’s continued climb. A more potent driver should rise to counter lingering uncertainties like the country’s inflation outlook.  

While inflation seems to be cooling off, the Philippines remains to have the highest in the region. Per his notes, latest inflation data in the region are as follows: Vietnam, 2.06%; Thailand, 0.23%; Taiwan, 1.75%; Singapore, 4.5%; Malaysia, 2,4%; Japan, 3.3%; Indonesia, 3.08%; and Hongkong, 1.9%.  

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Along with the seasonal impact of the “Ghost Month” this August, he believes the market may correct all the way down to 6,450 or 6,400. He added, however, the market may remain to move within the support-resistance range of 6,400 to 6,700.  

Joey Roxas, president and chief trader of Eagle Equities, Inc., believes as well the market will take a pause starting this week, especially that the ghost month of August will soon start on August 16.  Seasonally, this time of the year is down. Like the other two, he believes as well the market still has what it takes to move up given new leads.   

Stockbroker Rene De los Reyes of Abacus Capital & Investment Corporation shares a new dimension that gives out a new breath of fresh air in the market’s outlook until the end of the year.  

While he cannot say when the next breakout will happen, he expresses confidence this will happen.  The next target is 6,800.  The immediate support will still stay at 6,400.  When forced to make a fearless forecast, the answer is that this may happen as early as September or little later before the end of the year.   

The basis for his positive outlook comes from their firm’s study on the market’s ten-year price-earnings multiple (P/E ratio) performance.  They have observed the market’s P/E ratio to have always shown some kind of mean-revertive behavior, as in coming back to the level when it started the year.  

According to data, the market shows a pattern of a relatively high P/E ratio at the beginning of the year, then lose track along the way before climbing back to its original higher P/E ratio towards the end of the year.  

In terms of forward P/E ratio, too, it is now the cheapest among markets in the Southeast Asian region, according to De los Reyes. Lastly, the market’s earnings yield has turned more superior to the 10-year benchmark on bond yields, he added. If you get his drift, buy on dips. 

I believe that the market is on a consolidation or in an extended period of basing or base building that may have started even before the run-up on the 28^th week. 

This “resting” period has been as well accompanied by the classic signs of light volume and flat to choppy price range of a consolidation. As this is happening just remember that “the longer a market or stock stays in consolidation, the stronger the breakout tends to be as bears get blindsided.” – Rappler.com

(The article has been prepared for general circulation for the reading public and must not be construed as an offer, or solicitation of an offer to buy or sell any securities or financial instruments whether referred to herein or otherwise. Moreover, the public should be aware that the writer or any investing parties mentioned in the column may have a conflict of interest that could affect the objectivity of their reported or mentioned investment activity. You may reach the writer at densomera@yahoo.com)  

Pero ang tumampok sa makasaysayang yugto ay ang appointment ni Larry Gadon bilang presidential adviser on poverty alleviation. 

Presidente Marcos, ito ba talaga ang handog mo sa mga Pilipinong nagluklok sa iyo? 

Si Gadon – na na-disbar ng Korte Suprema sa isang unanimous decision? Narito ang isang taong isinusuka ng kanilang propesyon – aba’y na-appoint pa? 

Nakakademoralisa rin ito sa burukrasya dahil ginagantimpalaan ang masamang asal.

Bukod sa bastos si Gadon, ano ba credentials niya sa poverty alleviation? 

At higit sa lahat, tulad ng sinabi ni Winnie Monsod, insulto ang appointment ni Gadon sa mahihirap.

Ganyan ba kababa ang tingin ng Pangulo sa mga mahihirap? At ano ba ang isa sa pinakatampok na problema ng Pilipinas na kakabit ng napakaraming isyu? Hindi ba’t KAHIRAPAN? 

Pangulong Marcos, magkakaugnay lahat kaya’t di namin lubos maisip ano’ng ipinakain sa ‘yo ni Gadon at ginawaran mo siya ng karangalang maging bahagi ng game-changing solution -kung meron man- sa problema ng karalitaan. 

Ano ang alam ni Gadon sa social reform agenda? Puwede bang murahin, alipustahin, at talakan ang kahirapan hanggang ito’y maglaho?  — Rappler.com

BASAHIN: [EDITORIAL] Insulto si Gadon sa maralita, propesyonal, at burukrasya

Sabi ni Mutahar “Muta” Anas: “Actual human trafficking priest is running a channel still reaching out to victims less than 12 hours ago. Dude has an FBI warrant out rn (right now).”

Sa likod ng mga kasong laban kay Quiboloy ang kalunos-lunos na kuwento ng mga babaeng narekluta sa kanyang simbahan – ang ilan sa kanila menor de edad – na umano’y pinuwersang makipag-sex sa kanya bilang “night duty.”

Sabi ng Google, ang parent company ng YouTube, ito ay committed na mag-comply “with applicable US sanctions laws.” Pinapalakpakan namin ang Google at YouTube dahil sa aksiyong ito. 

Pero ito’y largely symbolic sa kasalukuyan dahil ang content ni Quiboloy ay patuloy na umeere sa YouTube channel ng kanyang mala-kultong simbahan – ang Kingdom of Jesus Christ o KOJC.

Bukod dito, namamayagpag pa rin ang content ni Quiboloy sa Facebook at Twitter!

Sa pinakahuling balita, nananawagan sa META at Twitter ang mga cause-oriented groups sa abroad na sundan ang ehemplo ng Google at YouTube.

Naniniwala ba si Pastor Quiboloy sa karma? Siguro hindi dahil supling ng diyos ang tingin niya sa sarili niya. 

Pero may karma – at may iba itong pangalan sa modernong lipunan – katarungan. 

Ang aksiyon ng YouTube ay direktang resulta ng serye ng mga pangyayaring nagsimula sa act of courage o katapangan ng mga babaeng kumibo – silang ninakawan ng buhay at identity. 

Pekeng pastor, pekeng simbahan, at pekeng news network. Ginawa na ng mga biktima ang papel nila upang ma-expose si Quiboloy at ang KOJC. 

Ito na ang hudyat sa platforms na tanggalan ng access ang makapangyarihang aparato ng panloloko at pang-aabuso ni Quiboloy sa social media.  – Rappler.com

BASAHIN: [EDITORIAL] Tanggalin sa social media ang pekeng pastor, pekeng simbahan, pekeng news network

Sinilip ng Senado ang mga ulat ng umano’y overbooking, offloading, at booking glitches ng budget airline ng mga Gokongwei. 

Ang layon ng imbestigasyon: Itulak ang Civil Aeronautics Board at ang Department of Tourism na tugunan ang mga reklamong ito at makahanap ng paraan na mabayaran ang mga naabalang pasahero.

Ang gobyerno, dapat higpitan ang regulasyon sa airline companies – iyan ay kung may regulasyon pa ngang ipinatutupad. 

Ang lumalabas, overbooking ang nangyayari. 

Ayon kay Senador Nancy Binay, kalakaran talaga sa aviation industry ang mag-overbook. Maaaring sa pananaw ng airlines, negosyo lang ang sa kanila, basta kumita.

Kung walang pakialam ang Cebu Pacific, PAL, AirAsia, at iba pang airline sa interest ng mamamayan, ng pasahero, hindi sila dapat pagkatiwalaan ng prangkisa mula sa gobyerno. 

Kung sa kabila ng reklamo ng mga pasahero at imbestigasyon ng Senado ay magbibingi-bingihan ang mga kinauukulan, isang lengguwahe lang naman ang kanilang pakikinggan: boto. 

Nitong 2022, may 22.5 milyon na domestic passengers sa Pilipinas.

Iyan ang potensiyal na bilang ng mga pasahero na maaaring maapektuhan ng pasumpong-sumpong na galaw ng mga airlines. Bilang din ito ng posibleng mga botante na mabubuwisit sa gobyerno na sa kanila ay hindi sasaklolo. — Rappler.com

BASAHIN: [EDITORIAL] Panagutin ang mga airline, hindi na puwedeng sorry na lang!

‘Yan daw ang ligayang dulot ng Eat Bulaga sa loob ng higit sa 43 taon sa ilalim ng mga TV station na RPN9 at GMA7. 

Mabuti pang tawagin na rin nating sanlibo’t isang LASLAS.

Sanlibo’t isang laslas sa psyche ng kabataang manonood ang mga gumigiling na babaeng kakarampot ang saplot habang lalo pang sinesemento ang loyalty ng viewers gamit ang giveaways at papremyo.

43 taon din itong toilet humor, panlalait sa may kapansanan, sa bakla, sa pangit, at sa kababaihan, to name a few.

Dahil household name at walang sintaas ang ratings, hindi matatawaran ang ambag sa dumbing down ng mga Pilipino at pagsayad ng standards natin bilang isang bansa sa kung ano ang “entertainment.”

Panahon nang pag-usapan ang pamana na misogyny, sexism, toilet humor, at pambobobo ng pinakasikat na trio sa Philippine entertainment. Panahon na ring pag-usapan kung papaano hinuhubog ng telebisyon, at ngayon ng internet, ang values natin bilang isang bayan.

Ngayong aampunin na ng TV5 sina TVJ, ito ang pagkakataon ng mga manonood na sabihing, “We deserve better.” – Rappler.com

‘Yan ang sabi ng Malacañang Rappler reporter na si Bea Cupin sa kaniyang ulat sa Balikatan drill.

Hindi lang makikita ang “change” na ito sa relasyong Pilipinas at Estados Unidos – na mula sa taglamig o winter ni Rodrigo Duterte ay tumatamasa ngayon ng tagsibol o spring sa ilalim ni Ferdinand Marcos Jr.

Makahulugan ang mga development na ito sa pakikipag-usap ni Pangulong Marcos kay US President Joe Biden sa kaniyang pagbisita sa Amerika. 

Pero bukas ang mata natin – sa kabila ng madalas na paggamit ng gobyerno ni Marcos ng salitang transparency – na malayo sa busilak ang rekord nito sa usaping ito. 

Sana lang ang transparency ay hindi nangangahulugang “good weather bulletin” lamang. 

Umaasa kami na simula rin ito ng makabuluhang access sa pamahalaan ni Ginoong Marcos. 

Mahalaga rin na mailagay sa tamang konteksto ang balancing act na ginagawa ni Marcos. 

Dapat maliwanag pa sa sikat ng araw na hindi magiging papel ng Pilipinas ang paglunsad ng proxy war para sa US laban sa Tsina – sa kabila ng pag-e-expand niya ng EDCA. 

Dahil national security ang nakasalang – at higit kailan, kailangan alam ng taumbayan ang pinapasok nating peligro sa pagitan ng dalawang nag-uumpugang bato. – Rappler.com

BASAHIN: [EDITORIAL] Sa gitna ng nag-uumpugang US at Tsina, mahalaga ang transparency

Three weeks ago, Erwan Heussaff, whom most knew as the husband of Anne Curtis, launched his video of Baguio cuisine on his YouTube channel.

The 22-minute introductory video which was vaguely titled “The Best of Baguio Food with Erwan Heussaff” was launched on YouTube on March 27 and has since gained 550,000 views and 10,000 likes.

Unlike most food vlogs about Baguio, Heussaff and his staff decided to go where tourists rarely went, except for Good Taste Restaurant, which he described as a food factory.

The others he went to were The Farmer’s Daughter Restaurant, Mang Ed’s Bakareta, Ili-Likha, Katipunan Restaurant, and, of course, Luisa’s Cafe.

Heusaff is also a chef, something only his YouTube subscribers know. And that, by the way, is not a minority. He has 3.5 million subscribers.

Now what if these subscribers follow what he preached?

Well, there’s nothing more to be done for Good Taste, which already has a wide and voracious following even without Erwan. On weekends, the queue would almost go around the block with the inside space already filled with a multitude.

What about the other restos he went to?

Luisa’s Cafe, before the millennium, was among the many Chinese restaurants along Session Road. There was Dainty Cafe, Session Cafe, Manila Cafe, Mandarin Restaurant, Tea House, 456 Restaurant and Sunshine Lunch.

One by one, the other Chinese restaurants closed because of gentrification.

Now there are only Luisa’s Cafe, 456 Restaurant and Tea House.

Tea House is known mostly as a take-out area because of the limited eating space. Come during the holidays and witness the queue for pancit palabok and how it rivals the weekend queue at Good Taste.

456, once the busiest restaurant after midnight, has retrofitted its Chinese cuisine, going Hainanese.

Luisa’s Cafe, as described by Heussaff and Marlon Wong, the son of the owner, has become the favorite hangout of writers and journalists of the city.

They come here because of coffee, beer, and the patience of Chongloy, the owner.

But when Heussaff marveled about the siopao and the special mami, that’s when the phenomenon began.

Before the YouTube special came out, only thirty servings of special mami were being ordered daily. During the Holy Week, the order for special mami reached 100 to 180.

Now before you say this is still few, remember that special mami is their huge order, enough to feed two to three. It sells for P280 each. Many of the tourists who came just to get the Heussaff experience thought it was meant to serve only one person.

Because of the Heussaff effect, Luisa’s Cafe’s usual servings of mami have markedly increased.

As for siopao, they used to serve 300 siopaos daily on a good day. Now after March 27 and the Heussaff magic, 700 or more siopaos are served daily.

Not all celebrity vloggers have that effect. The only one we can think of is Kris Aquino, when she was healthy.

Heussaff, of course, is a chef and knows what he talks about.

When he said that the noodles of Luisa’s were hand-pulled, meaning the traditional Chinese way, people were intrigued.

Of course, Baguio residents saw nothing extraordinary about that. But now they know.

The Erwan Heussaff Effect is not just a celebrity vlogger appearing at your place and eating what you serve.

It is also looking at a familiar place with new eyes. Now, Baguio residents have come to realize that the second floor is where the interesting people gather.

Now, Baguio residents know that artists have also turned the second floor into an art gallery. Now they know that they can interact with the noisy writers up and below.

Now they are rediscovering their own art hub. The tourists come and go but the writers and artists are here to stay.

Editorial
Baguio Chronicle
April 22, 2023

Here is the link to the video by FEATR: https://m.youtube.com/watch…

Nag-deny na nga ang sister company ng San Miguel Shipping na Petron na cargo nito ang “black oil” – pero hindi pa rin sinasagot ng charterer na SL Harbor na pag-aari rin ni Ramon S. Ang kung ito nga ang nag-charter ng tanker.

Bakit mahalagang maging accountable ang nag-charter?

Ito’y dahil ang tanker, na diumano ni-refit nang dalawang beses at hindi talaga ginawa para maging tanker, ay banta sa karagatan sa isa sa pinaka-biodiverse na lugar hindi lang sa Pilipinas, kundi pati sa buong mundo.

Sana’y ipakita ng kumpanya ni RSA ang matagal na nitong ipinagmamalaki: ang corporate social responsibility.

Hindi man ito ang may-ari ng kompanya ng tanker, ito naman malamang ang may-ari ng langis na ngayo’y lumalason ng karagatan.

Ang lalong masakit, malaking bahagi ng epekto ay naipapasa sa lokal – lokal na LGU ang magpapasan ng bigat ng social costs, at higit sa lahat, mga komunidad ang magpapasan ng hagupit sa kabuhayan at kalusugan. 

Hitik sa salitang itim ang malungkot na yugto na ito sa kasaysayan: black oil, na nagpaitim ng karagatan, at walang pakialam ang malaking kompanya na sa bandang huli ay mukhang maitim pala ang budhi. – Rappler.com

BASAHIN: [EDITORIAL] Mindoro oil spill: Black oil, black ocean, black conscience?

UNA. May kultura talaga ng patayan lalo na sa lokal na politika, at sa gitna nito ay ang hindi naman nalansag na private armies.

Sa termino ni Pangulong Ferdinand Marcos Jr., may pito nang asasinasyon na naganap. Pampito na si Governor Degamo.

PANGALAWA. Epekto ito ng pagkalusaw ng disiplina sa pulis at militar nitong nakalipas na mga dekada. 

Ang mga unipormadong puwersa ay naging mistulang armadong lakas ng mga makapangyarihang pulitiko.

PANGATLO. Direktang epekto ito ng practice ng AFP at PNP na pagpapahiram ng active-duty na sundalo at pulis sa pulitiko upang maging mga bodyguard. 

Bakit kailangan ng mga politician na ito ng security detail mula sa sandatahang lakas na pinasusuweldo ng taumbayan? 

Sa bandang huli, ang umano’y “bad apples” ay repleksiyon ng pinanggalingan nila: kung saan talamak ang kultura ng impunity, kuwestiyonable ang respeto sa kahalagahan ng buhay, at kung saan mahina na ang kapit ng propesyonalismo.

PANG-APAT. Dumako naman tayo sa mga padrinong nagpayabong sa sistema ng soldiers-for-hire: ito ang dynasties na gagawin ang lahat makapang-agaw lang ng kapangyarihan. 

Ang pamahalaan ang nagpanatili ng kultura ng patayan at impunity. 

Sa Pilipinas ba, some soldiers never die, they just become mercenaries? – Rappler.com

BASAHIN: [EDITORIAL] Totoo ba, soldiers never die, they just become mercenaries?

Masama ba na bago makipagkamay sa ‘yo, hihilingin ng kausap mo sa negosyo na maghilamos ka ng maruming mukha at maghugas ng madugong kamay?

Tandaan natin, kahit na magkaibang entity, magkakabit ang bituka ng EU Parliament at International Criminal Court dahil lahat ng mga miyembro ng EU ay bahagi rin ng ICC.

Kaya’t nang tinawag ni Senador Jinggoy Estrada na “white monkeys” ang mga taga-ICC, para na rin niyang tinawag ang mga member-nations, kasama ang EU, na mga puting unggoy.

At siya nga pala, kahit na umalis na sa ICC ang Pilipinas, puwede pa rin nitong imbestigahan ang bansa ayon mismo sa nilagdaang kasunduan nang sumali ito.

Mahalaga ang pagbisita ng EU parliamentarians sa Pilipinas dahil senyales ito na may pagsisimulan na ng pag-uusap tungkol sa human rights sa ilalim ni Presidente Ferdinand Marcos Jr., hindi tulad noong panahon ni Duterte na walang puwang sa dayalogo. 

Dapat tuparin ni Pangulong Marcos ang kuda ng kanyang gobyerno. Dahil kung hindi, ang ekonomiya ang magdurusa. 

At sigurado nating alam naman ni Marcos Jr. na marami nang mga presidente, gaano man ka-popular, ang itinatakwil ng taumbayan kapag sumasablay ang ekonomiya. – Rappler.com

BASAHIN: [EDITORIAL] ‘Puting unggoy’? ‘Wag kumagat sa gaslighting laban sa ICC at EU