RED is not the color in the PSE on Valentine's Day

The day's market - February 14, 2007
The Philippine stock market resumed its bullish ways after the 3,200 support level held in the previous days' correction and consolidation.

The PSEi zoomed up by 67.03 (+2.07%) to end at 3300.94. It is a new 10 year-high close.

Buying was across-the-board as all sectors were up. The rise was led by the Property (+3.12%), Services (+2.70%) and Financial (+2.15%) sectors.
Trading was brisk as buyers went back into the market in a big way and pushed prices higher. Total volume traded reached PhP 5 billion.

Gainers swamped losers 83 to 48.

The rise in the market was broad based and not confined to the blue chip and index issues. Punters were active in the market as the smaller cap issues also continued its rise from yesterday.

Yesterday's secondliners that were tracked also continued to rise. The closing prices today were: MAC PhP 2.75 (from PhP 2.32 previously), ABA PhP 0.013, ABAB PhP 0.014 and BEL PhP 1.50 (after reaching a days' high of PhP 1.62).

Momentum is seen to carry the market to higher grounds as it breaks through the 3,300 level. But at current levels, it may be prone to sudden bouts of profit taking esp on stocks that are at overbought levels.