Meet the new lady in the PSE! We have been anticipating her arrival since late last year but as you all know, it was only today that the new trading system was implemented. I felt the market hesitate today. That isn't surprising at all since almost everyone is still trying to get the hang of the new and more complicated system. In fact, there were several errors in the market today. A trader in my brokerage posted a buy order on AGI, only to realize he posted a sell order. Another trader was also so happy to have sold LIHC at a certain price, only to realize, he had the same buy order at the same price. Then I heard a trader from another broker sold MER at 165. I think it ought to have been a buy. Then SM opened at 357.6. Now that was a screaming buy! But honestly, it was hard to get shares even at the 400 level. Napitik lang talaga...
I, myself, was hesitant to buy anything today because somehow, market feel was different and I had difficulty gaging the market. Market Indicators were also down. All day, the PHISIX showed a value of 3,888, and at the start of trading, our market was up 470 points! It later on changed to 13 points. PSE announced later on that the market was closed 3,414, down by 2 points.
I don't know about you but I found today rather uneventful when it comes to stock price. Maybe, if you were able to ride RCB and MEG, your day would have been more interesting than mine. :P
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