Business Newsbits: November 30, 2012

Aboitiz Power Corp. (AP) declares a cash dividend of P0.22 per share to all stockholders as of Dec. 13, 2012, payable on Jan. 11, 2013.

Ayala Land Inc. (ALI) launches the first building of Garden Towers, an upscale residential condominium in Makati City. The property developer expects to generate roughly P7 billion from the sale of units at the first building.

Bank of the Philippine Islands (BPI) and the Department of Tourism (DOT) team up on a tourism project financing and services that will use  and expand banking infrastructure to support the needs of the tourism industry.

D&L Industries, Inc., a colorant and food additive maker, announces its initial public offering (IPO) final price at P4.30 per share. The company is set to list on Philippine Stock Exchange next month.

EastWest Bank (EW) raises P1.5 billion through the issuance of long-term negotiable certificates of deposit (LTNCDs) to fund the bank's growing lending business. The LTNCDs have tenor of five years and six months and coupon rate of 5% but unlike regular time deposits, they cannot be preterminated although they can be traded in the secondary market.

Liberty Flour Mills, Inc. (LFM) declares a cash dividend of P1.00 per share with record date of Dec. 11, 2012, payable on Dec. 21, 2012.

Standard & Poor's Rating Services (S&) upgrades the credit rating of Manila Electric Co. (MER) to "BB-" a stable outlook, based on the company's stronger competitive position and cash flow stability.

The Philippines' gross domestic product (GDP) grows by 7.1% in third quarter of 2012, beating market expectations. The high GDP growth extends the Philippine stock market's rally allowing the PSE index to end above 5,600, which is first time in history.

Philippine Realty and Holdings Corp. (RLT) approves a joint venture project with its principal shareholder Greenhills Properties Inc. (GPI) to develop a 6,400-square meter prime property in Bonifacio Global City into a mixed-use complex.

President Benigno Aquino III approves Manuel V. Pangilinan's NLEx-SLEx connector road and ten other public-private partnership (PPP) projects. The P25-billion connector road is the second biggest project in the list after the P43-billion Cavite-Laguna Expressway. Also in the list is the new P17.5-billion terminal at Mactan-Cebu International Airport, which the Ayala and Aboitiz groups plan to bid for.

Republic Glass Holdings Corp. (REG) announces the sale of its two-hectare property in Libis, Quezon City to Robinsons Land Corp. (RLC).

Rockwell Land Corp. (ROCK) authorizes the issuance of Corporate Notes of up to P10 billion with First Metro Investment Corp. and PNB Capital and Investment Corp. as the joint lead arrangers. The P4-billion proceeds will be used to refinance the company's existing loans while the balance of P6 billion will be for various land acquisitions and capital expenditures.

UBS AG, the sole international bookrunner and lead manager for the follow-on offering of STI Education Systems Holdings, Inc. (STI), exercises its over-allotment option of 273 million STI shares.

Stock Picks: DIZ, NI

I had difficulty choosing what to buy today. PGOLD has already rallied since the breakout signal I saw two days ago and I couldn't find a good entry point.

BSC, on the other hand, was trading on thin volume so I hesitated. Aside from this, BSC's trend indicator moved down further so the downtrend reversal I saw on Nov. 25 was just a fluke.


I scanned some stocks to see if there's any worth betting on. I noticed DIZ forming an engulfing pattern early on while its trend indicator was trying to break out of the downtrend. I decided to go ahead hoping for a downtrend reversal and bought the stock at 16.86.


Then, a colleague tipped NI and upon checking the chart,  the trend and volatility indicators were moving upward. Is that a harami cross at the end of price chart? This is not a significant candlestick reversal pattern but combined with the upswing in trend and volatility indicators, I decided to bet on the stock and bought at 5.50.

Philippine Stock Market Soars to All-Time High

The Philippine Stock Market today soared to a new all-time high on slew of positive news-- higher corporate earnings, banking merger talks, rosy outlook on the Philippine economy, and stronger peso. The Philippine Stock Exchange index (PSEi) closed to a record high of 5,579.42 and also hit a new record intraday high of 5,585.09. The rally was led by banking stocks that inched up the financial index by 1.62%.

Energy Development Corp. (EDC) also posted its highest closing price at 7.08 and intraday high at 7.12. The stock was up by 2.31% from previous close.

Stocks to Watch: BSC, PGOLD

BSC - The trend indicator reverses course from a downtrend, a comeback is in the offing? I bought this stock 2 weeks ago gaining 3.57% on a day's trade, I may try to enter this trade again.

PGOLD - The trend indicator has slightly broken out of a downtrend line combined with an increase in volatility indicator. This may be a time to enter the trade.

Business Newsbits: November 25, 2012

Anchor Land Holdings, Inc. (ALHI) reports a net income of P706.8 million for the first nine months, 26% higher than last year.

Ayala Corp. (AC) enters into an agreement with Ho Chi Minh City Infrastructure Investment JSC (CII) to jointly invest in Vinaphil Technical Infrastructure Investment JSC (VinaPhil), a corporation established under Vietnam law to invest in infrastructure projects in Vietnam. VinaPhil will be initially49%-owned by AC with the remainder by CII and other Vietnamese investors.

Bangko Sentral ng Pilipinas (BSP) has approved the purchase by Malaysia's CIMB Group of a controlling stake in the Bank of Commerce. San Miguel Corp. (SMC) owns the Bank of Commerce through San Miguel Properties, Inc., and SMC Retirement Funds.

Cebu Holdings, Inc. (CHI) declares a cash dividend of P0.10 per share to all outstanding shares of the company as of record date Dec. 7, 2012, payable on Dec. 21, 2012.

Cebu Property Ventures and Development (CPV) declares a cash dividend of P0.12 per share to all outstanding shares of the company as of record date Dec. 7, 2012, payable on Dec. 21. 2012.
Centro Escolar University (CEU) declares a cash dividend of P0.75 per share to stockholders as of record date of Dec. 17, 2012, payable on Jan. 15, 2012.

First Gen Corp. (FGEN) prepays its P3.75 billion 5-year loan facility obtained in May 2010.

Jollibee Foods Corp. (JFC) and EEI Corp. (EEI) receive business awards as outstanding Philippine companies that have contributed to regional economic growth during the 2012 ASEAN Business and Investment Summit in Phnom Penh, Cambodia.

Manila Broadcasting Co. (MBC) declares a cash dividend of P0.18 per share to stockholders as of record date Dec. 10, 2012, payable on Dec. 21, 2012.

Philex Mining Corp. (PX) will spend at least P1.06 billion for the rehabilitation and cleanup of Balog Creek and its convergence area with Agno River based on a rehabilitation plan it submitted to the DENR's Mines and Geosciences Bureau on Nov. 22, 2012. Philex's tailings pond at its Padcal Mine in Benguet was damaged after heavy rains in August 2012 and the mine operations have been suspended since.

Philippine Estates Corp. (PHES) announces a joint venture agreement with Ayala Land Inc. (ALI)'s Amaia Land Corp. to develop the company's real estate property located in Cavite into a residential/subdivision project.

Philippine National Bank (PNB) reports a net income of P3.8 billion for the first nine months, 92.5% higher than last year. In a related news, the Hong Kong Monetary Authority (HKMA) has given its approval for PNB to become a majority shareholder controller of Allied Banking Corp. (Hong Kong) Limited in relation to the merger between PNB and Allied Banking Corp.

Philippine Stock Market as of November 23, 2012

PSE Indices
Index		Value	Change	% Change
PSEi		5,552.34	38.97	0.71
All Shares		3,609.26	18.19	0.51
Financials		1,480.57	19.16	1.31
Industrial		8,734.96	50.58	0.58
Holding Firms		4,890.74	40.84	0.84
Services		1,693.22	-0.27	-0.02
Mining and Oil		18,721.51	-89.90	-0.48
Property		2,095.35	10.42	0.50
Top Gainers
Stock	Price	Value	Previous	Price Change
EURO	2.06	14,360	1.850	11.35%
BMM	58.00	16,990	52.500	10.48%
PRIM	1.26	1,319,630	1.160	8.62%
WEB	14.00	422,492,766	13.000	7.69%
CEU	10.76	281,582	10.120	6.32%
UPM	0.02	4,896,300	0.018	5.56%
OPM	0.02	434,400	0.018	5.56%
AAA	4.49	441,310	4.260	5.40%
DMC	55.75	96,206,216	53.200	4.79%
VUL	1.67	32,321,930	1.600	4.37%
Top Losers
Stock	Price	Value	Previous	Price Change
RPL	4.21	8,421	5.080	-17.13%
BHI	0.16	33,789,220	0.174	-8.05%
MAC	2.71	113,520	2.900	-6.55%
2GO	1.90	44,780	2.000	-5.00%
PCKH	7.60	53,340	8.000	-5.00%
ALCO	0.18	38,920	0.185	-4.86%
GREEN	0.02	3,320,300	0.025	-4.00%
SPM	1.77	116,850	1.840	-3.80%
PRMX	2.90	10,350	3.000	-3.33%
YEHEY	1.16	157,950	1.200	-3.33%
Most Active
			Price Change
Stock	Price	Value	Previous	Last Week
WEB	14.00	422,492,766	7.69%	7.69%
PNB	84.30	418,182,398	3.37%	17.16%
SMC2A	75.00	327,084,500	0.00%	0.00%
MBT	97.00	280,868,744	2.11%	1.84%
TEL	2,500.00	276,642,110	-0.32%	-0.24%
AGI	16.00	275,047,102	1.91%	6.10%
AC	486.60	266,042,982	1.38%	8.18%
EDC	6.92	251,195,689	0.58%	0.58%
BDO	69.40	220,956,550	0.29%	2.06%
SMPH	14.50	203,128,764	0.00%	0.14%
Top Net Foreign Trade
			Price Change
Stock	Price	Net Foreign Buy	Previous	Last Week
AC	486.60	99,784,298	1.38%	8.18%
PNB	84.30	67,290,368	3.37%	17.16%
BDO	69.40	65,908,110	0.29%	2.06%
BPI	92.80	62,526,209	3.11%	8.67%
AEV	48.70	41,196,300	0.10%	0.00%
			Price Change
Stock	Price	Net Foreign Sell	Previous	Last Week
WEB	14.00	(269,133,016)	7.69%	7.69%
MER	255.40	(78,752,906)	0.95%	1.11%
TEL	2,500.00	(54,551,340)	-0.32%	-0.24%
ABSP	33.80	(32,612,730)	-0.29%	-0.29%
SMPH	14.50	(28,713,092)	0.00%	0.14%
PSE Composite Index
			Price Change
Stock	Price	Value	Previous	Last Week
AC	486.60	266,042,982	1.38%	8.18%
AEV	48.70	43,861,610	0.10%	0.00%
AGI	16.00	275,047,102	1.91%	6.10%
ALI	23.30	96,354,725	0.87%	1.97%
AP	34.80	41,951,125	0.72%	1.31%
BDO	69.40	220,956,550	0.29%	2.06%
BEL	5.13	30,084,393	0.00%	0.20%
BPI	92.80	112,215,459	3.11%	8.67%
DMC	55.75	96,206,216	4.79%	5.19%
EDC	6.92	251,195,689	0.58%	0.58%
FGEN	23.50	87,896,700	0.64%	1.08%
GLO	1,135.00	17,023,225	-0.35%	-1.30%
ICT	70.00	172,992,974	0.07%	0.14%
JFC	106.50	22,998,507	1.14%	-0.93%
JGS	37.00	27,147,550	-1.33%	8.82%
MBT	97.00	280,868,744	2.11%	1.84%
MEG	2.45	93,071,570	0.41%	-0.81%
MER	255.40	166,155,188	0.95%	1.11%
MPI	4.31	47,112,260	0.23%	0.23%
MWC	31.50	67,100,630	-0.32%	0.96%
PCOR	10.60	19,198,740	0.00%	-0.93%
PX	13.10	33,377,318	-2.38%	-2.96%
RLC	18.44	29,331,844	0.99%	-1.39%
SCC	220.00	8,090,540	0.46%	0.09%
SM	836.00	81,404,575	0.72%	2.08%
SMC	109.10	39,852,271	-0.09%	0.46%
SMDC	5.89	17,938,257	-0.17%	-1.51%
SMPH	14.50	203,128,764	0.00%	0.14%
TEL	2,500.00	276,642,110	-0.32%	-0.24%
URC	77.00	84,590,460	1.32%	1.32%

Stock Valuation: P/E Ratio

What is P/E ratio?
Price-to-earnings ratio, or commonly known as the P/E ratio, is a standard tool for valuing stocks. It is computed by dividing the market price per share of stock by the company's current earnings per share (EPS). When we buy shares of common stock, we become a stockholder of the company. As a stockholder, we have a proportionate share in the company's earnings. The P/E ratio is the price that we are willing to pay for the company's earnings. If the company is trading at a multiple (P/E) of 20, the investor is willing to pay an amount of 20 for 1 of current earnings. The more profit the company makes, the more attractive it is to the investors. The market's perception about a company's future earnings drives the stock's price and so its P/E ratio.

How are P/E ratios used?
The P/E ratios are best used by comparing companies with a high P/E and a low P/E in the same sector. High P/E means high expectations of the company's future earnings. A very high P/E can mean that the company is overpriced or 'expensive' and any negative development on its prospects may lead to falling P/Es. The higher the P/E, the harder the fall, and the greater the risk to the investor. On the other hand, low P/E means the expectations on future earnings of the company are low. Unusually low P/E may indicate a weak company with poor prospects for growth. To some degree, either high or low P/E can expose an investor to risk.

The basic rule is to look for companies that are selling at relatively low P/Es but have high expectations of earnings growth. Some traders make a shortlist of stocks based on this and apply technical indicators to determine the trade entry and exit points.

Where to find a company P/E ratio ?
There are many sources for P/E ratios and these include company website, online stockbroker, stock exchange website, online and paper publication, and market data provider like Bloomberg or Reuters.
Here's a report that includes the P/E ratios (PER) of some listed companies in the Philippine Stock Exchange. It's a free online publication that can be downloaded from the PSE website.

Stocks to Watch: GREEN, OPMB

GREEN - I'd like to try this stock but a bit concerned with the bearish divergence (higher highs for price, lower highs for trend indicator) on Nov. 19, 2012, wait and see.
OPMB - The trend and volatility indicators bounced from oversold level, it may be a good time to enter the trade for quick gains.

Stock Picks: AGI

Sold AGI at 15.94 today realizing a profit of 1.08 (7.27%) from purchase price of 14.86. The stock's intraday high was 16.00 but closed lower at 15.70 due to profit taking.

Stocks to Watch: ELI, LPZ

ELI - The price and trend indicator break out of the downtrend line with very nice volume (look at that!). Watch the price breaking above the parabolic SAR, this can confirm the price trend reversal.
LPZ - The stock is likely to breach the 52-week high and resistance at 6.53. Buy on a breakout with big volume.

BPI-PNB Merger Talks

In a disclosure to the Philippine Stock Exchange (PSE), the Bank of the Philippine Islands (BPI) and Philippine National Bank (PNB) have confirmed discussions of a possible merger. BPI seeks to acquire a majority stake in PNB in its bid to become the country's largest lender by assets, a position currently held by BDO Unibank, Inc. (BDO). The trading of BPI and PNB shares was halted this morning by PSE because of the merger talk. Yesterday, BPI closed at 88.45 (3.21% up) and PNB at 84.10 (11.69% up).

Business Newsbits: November 20, 2012

Aboitiz Equity Ventures (AEV) acquires 100% interest in Aboitiz Land, Inc. from Aboitiz & Company, Inc. for P3.2 billion. Aboitiz Land is the developer and operator of the Mactan Economic Zone II in Lapu Lapu City and the West Cebu Industrial Park in Balamban.

Calata Corp. (CAL) enters into an exclusive agreement with Siembra Directa Corp. for the supply of agricultural farm inputs (seeds, agrochemicals and fertilizers) in all of Siembra's farming operations throughout the Philippines. This will provide Calata an estimated additional sales of at least P1.6 billion for a 20-year exclusive supply contract.

COL Financial Group, Inc. (COL) reports a 7.5% decline in its nine-month net income to P266.5 million due to the increased expenses and poor performance of its overseas unit Hong Kong.

Energy Development Corp. (EDC) reports a net income of P8.57 billion for the first nine months of 2012 from a loss of P488 million for the same period last year. The increase was boosted mainly by revenues from its subsidiaries Green Core Geothermal, Inc. and First Gen Hydro Power Corp.

NTC orders Globe Telecom , Inc. (GLO), Philippine Long Distance and Telephone Co. (TEL)'s Smart Communications, Inc., and Digitel Mobile Philippines (Sun Cellular) to reduce SMS rates to P0.80 from P1.00 per tex message and reimburse subscribers of the P0.20 difference for an estimated 20 million messages since the order took effect on Dec. 1, 2011. The order stems from NTC's Memorandum Circular No. 02-10-2011 issued in October 2011 lowering interconnection charges to P0.15 per SMS from the original P0.35. NTC also ordered the three telcos to pay P200 per day starting Dec. 1, 2011 until they are able to comply with the circular.

Lafarge Republic, Inc. (LRI) has met Philippine Stock Exchange's 10% minimum public ownership requirement following a share swap it conducted on Nov. 18, 2012 with Southeast Asia Cement Holdings, Inc. (CMT). Prior to the share swap, Lafarge had a public float of 6% and failure to comply with minimum requirement will lead to forced delisting from the bourse.

Robinsons Land Corp. (RLC) unveiled on Nov. 18, 2012 The Sapphire Bloc in a press briefing at Crowne Plaza Manila Galleria, a four-tower complex that will rise on an 8,400-sqm property bounded by Sapphire and Garnet Roads in Ortigas Center, Pasig City. This is Robinsons Land'sbiggest project to date in Ortigas.
San Miguel Pure Foods Co., Inc. (PF) priced its secondary share offer at P240. The offer will be crossed at the stock exchange on Nov. 21, 2012. The share sale will increase Pure Food's public float to up to 15% from the current .08%, allowing the firm to comply with the 10% minimum public ownership set by the Philippine Stock Exchange for listed companies at year-end.

Aman Futures: Biggest Pyramid Scam in the Philipppines

Aman Futures Group ran the recent and biggest pyramid scam in Philippine history. The group, operated as a broker or dealer of commodity futures contracts, had duped 15,000 people in the Visayas and Mindanao of P12 billion by promising very good returns on their investments. At the height of the scheme, investors were getting interest rates as high as 41% for 8-day placement and 86% for 14-day placement. By the time the scheme collapsed, the 20-day placement was mostly offered with interest rates peaking at 67%. Manuel Amalilio, the chairman of Aman Futures, was reported to have gone into hiding in Malaysia. The Philippine authorities are working vigorously to bring those involved in the scam to jail for fear that angry investors might take the law into their own hands. There were already reports of retaliation allegedly perpetrated by some of the victims. Investors of Aman Futures include ordinary folks like fish vendors, motorcab drivers and poor neighbors who pooled their money to be able to reach the required minimum investment of P200,000, which was initially pegged at P1,000.

Pyramid scam is not new in the Philippines, however, people tend to fall prey to similar schemes. Reasons vary but greed and ignorance are a common denominator among the victims. The idea of get-rich-quick is so strong that people are tricked into investing their hard-earned money in a bogus scheme.
Here are the previous celebrated pyramid scams in the Philippines:

1. Multinational Telecom Investors Corp. (Multitel), headed by Rose Baladjay (aka Queen of Pyramiding), duped more than 950,000 individuals of several billions of pesos by promising a monthly 4% to 5% interest rate and using a double-your-money scheme. The pyramid scam crashed in 2002 and Baladjay reportedly got P20 million from the victims. She was sentenced in April 2012 by the Court of Appeals of up to 20 years in prison.
2. Royal Manchester Five Trading Corp. (RMF) of Cyrus Yap Hao swindled P2 billion from some 3,000 investors including celebrities and retirees, promising 3% to 5% interest each month. The investors were told their money would be placed in high-end money markets abroad, particularly in Hong Kong, the United States and Europe, as well as in futures trading, including government securities, treasury bills and foreign exchange trading. Hao now faces an estafa case at the Quezon City regional trial court.
3. Legacy Group of Celso de Los Angeles had a network of around 13 rural banks, a pre-need firm, as well as financing companies that served millions of clients all over the country.  De Los Angeles' downfall started when the Bangko Sentral ng Pilipinas (BSP) ordered the closure of his rural banks in December 2008 as these allegedly engaged in illegal activities. The central bank alleged that it was luring depositors with sky-high interest rates so it could funnel these to branches that were facing heavy withdrawals. He died in March 2012 with the unresolved P487-million syndicated estafa case filed against him.
4. Banco Filipino (BF), a thrift bank, enticed its 177,652 depositors with rates of between 6.0 and 13.9 percent compared with the industry savings account standard of between 1.0 and 2.0 percent, causing interest expenses to top interest income. It was shut down by BSP in March 2011 for running a "Ponzi" scheme, luring thousands of people with high yields and using new deposits to pay interest on old ones.
5. Tibayan Group of Investments Co., Inc. (TGICI) swindled 16 people in 2006 of their investment ranging from P50,000 to P1 million with an assurance that their money would gain 3% to 8% interest every month. Shortly after several investors were enticed to invest in the firm, the TGICI gradually ceased its operation and eventually closed its office. In December 2008, the Manila regional trial court charged 7 TGICI officials with syndicated estafa.
6. Performance Investments Products Corp. (PIPC). Its owner Michael H.K. Liew, a Singaporean, disappeared and fled the country sometime in July 2007 taking with him between $140 to $250 million of investors' funds. The victims were enticed to invest a minimum of $40,000 on the promised earnings of 12% per year.
7. FrancSwiss, a high-yield investment program (HYIP), offered 4.5% return on a minimum investment of $1,000. By the first week of July 2007, the program had been officially declared a Ponzi scheme by BSP and SEC. The related websites (www.francswiss.com; www.francswiss.biz; www.francswiss.us) became inaccessible and investors stopped receiving payments.
8. The Mateo Management Group (MMG) duped 950 or so people of some P193 million and $6 million in 2003, promising 2.5% interest per month on investments.

Pyramid and Ponzi schemes are similar in the sense that these are created to defraud people, giving hope of an extremely high rate of return. Several characteristics distinguish the two schemes:

• In a Ponzi scheme, the schemer acts as a "hub" for the victims, interacting with all of them directly. In a pyramid scheme, those who recruit additional participants benefit directly. (In fact, failure to recruit typically means investment return.)
• A Ponzi scheme claims to rely on some esoteric investment approach and often attracts well-to-do investors; whereas pyramid schemes explicitly claim that new money will be the source of payout for the initial investments.
• A pyramid scheme typically collapses much faster because it requires exponential increases in participants to sustain it. By contrast, Ponzi schemes can survive simply by persuading most existing participants to reinvest their money, with a relatively small number of new participants. (www.wikipedia.org)

The Philippine Securities and Exchange Commission posted on its website an investor’s guide on how to recognize internet-based ponzi investment schemes and the following are some of the features:

• No SEC registration
• Investment in foreign currency, preferably in US Dollars
• Offers or guarantees a huge profit in a very short period
• Utilizes a binary network (i.e. upline and downline) to earn commissions
• No paper trail (i.e. contracts, receipts)
• Promises little or no financial risk
• Provision for lock-up period where an investor cannot touch the investment (i.e. 60 days)
• Assures pay-off of investments in a short time
• Uses high-pressure methods to convince investors to reinvest their earnings
• Unknown principal office, address, founders, directors or officers
• Orientation seminars are conducted informally

And here is SEC’s Investment Scam Checklist:

The following are some guidelines on Pyramid and Ponzi schemes from U.S. Securities and Exchange Commission's website.
Pyramid Schemes
In the classic "pyramid" scheme, participants attempt to make money solely by recruiting new participants into the program. The hallmark of these schemes is the promise of sky-high returns in a short period of time for doing nothing other than handing over your money and getting others to do the same.
The fraudsters behind a pyramid scheme may go to great lengths to make the program look like a legitimate multi-level marketing program. But despite their claims to have legitimate products or services to sell, these fraudsters simply use money coming in from new recruits to pay off early stage investors. But eventually the pyramid will collapse. At some point the schemes get too big, the promoter cannot raise enough money from new investors to pay earlier investors, and many people lose their money. The chart below shows how pyramid schemes can become impossible to sustain:

What are some Ponzi scheme “red flags”?
Many Ponzi schemes share common characteristics. Look for these warning signs:

• High investment returns with little or no risk. Every investment carries some degree of risk, and investments yielding higher returns typically involve more risk. Be highly suspicious of any “guaranteed” investment opportunity.
• Overly consistent returns. Investments tend to go up and down over time, especially those seeking high returns. Be suspect of an investment that continues to generate regular, positive returns regardless of overall market conditions.
• Unregistered investments. Ponzi schemes typically involve investments that have not been registered with the SEC or with state regulators. Registration is important because it provides investors with access to key information about the company’s management, products, services, and finances.
• Unlicensed sellers. Federal and state securities laws require investment professionals and their firms to be licensed or registered. Most Ponzi schemes involve unlicensed individuals or unregistered firms.
• Secretive and/or complex strategies. Avoiding investments you don’t understand or for which you can’t get complete information is a good rule of thumb.
• Issues with paperwork. Ignore excuses regarding why you can’t review information about an investment in writing, and always read an investment’s prospectus or disclosure statement carefully before you invest. Also, account statement errors may be a sign that funds are not being invested as promised.
• Difficulty receiving payments. Be suspicious if you don’t receive a payment or have difficulty cashing out your investment. Keep in mind that Ponzi scheme promoters sometimes encourage participants to “roll over” promised payments by offering even higher investment returns.

Stocks to Watch: CYBR, FLI

CYBR - The trend indicator surged to -8.62 from -129.31 coupled with increased volume of 5,838,000 from 1,023,000 the previous day. Wait for volatility indicator to set near zero to enter the trade and avoid if price falls below the diagonal support line. This is for range trading with resistance at 0.87.

FLI - A flag was formed on November 16, 2012 that may indicate possible resumption of uptrend when the formation completes. Flag is a continuation pattern and is considered complete after it has formed and breaks out of that pattern, and potentially continuing on with the previous trend. Watch out for the upward price breakout.

Philippine Stock Market as of November 16, 2012

PSE Summary
Index		Value	Change	% Change
PSEi		5,439.28	24.46	0.45
All Shares		3,578.16	9.49	0.27
Financials		1,409.02	3.08	0.22
Industrial		8,683.01	65.18	0.76
Holding Firms		4,712.58	19.40	0.41
Services		1,692.44	4.88	0.29
Mining and Oil		18,798.92	-165.73	-0.87
Property		2,078.63	19.44	0.94
Top Gainers
Stock	Price	Value	Previous	Price Change
JOH	7.60	1,303,745	6.800	11.76%
CAL	6.75	32,695,944	6.080	11.02%
GREEN	0.03	98,037,100	0.023	8.70%
FJP	2.79	126,110	2.570	8.56%
MJIC	5.95	13,685	5.590	6.44%
MIH	7.58	1,327,818	7.130	6.31%
IP	0.89	1,416,420	0.840	5.95%
ABSP	33.90	158,201,860	32.000	5.94%
MIHB	7.68	327,100	7.310	5.06%
ABS	33.50	14,232,510	32.000	4.69%
Top Losers
Stock	Price	Value	Previous	Price Change
VVT	7.90	790	10.500	-24.76%
LSC	1.30	2,600	1.500	-13.33%
LFM	40.00	4,000	46.000	-13.04%
EURO	1.80	25,200	2.030	-11.33%
MMI	3.50	35,000	3.900	-10.26%
ARA	0.56	174,590	0.620	-9.68%
CHI	4.50	49,500	4.950	-9.09%
EG	0.03	9,170,500	0.028	-7.14%
VITA	1.07	7,903,370	1.150	-6.96%
WEB	13.00	5,751,410	13.960	-6.88%
Most Active
			Price Change
Stock	Price	Value	Previous	Last Week
AC	449.80	400,455,802	1.03%	0.40%
MER	252.60	400,345,246	0.80%	-4.97%
EDC	6.88	306,766,389	1.62%	3.61%
TEL	2,506.00	290,738,890	0.16%	-4.71%
SECB	155.10	284,616,974	1.04%	-4.85%
MBT	95.25	278,390,510	0.21%	-1.35%
BDO	68.00	258,590,357	0.37%	-1.38%
SM	819.00	248,686,305	0.55%	0.49%
PNB	71.95	243,092,465	0.21%	0.21%
APM	0.13	188,315,970	4.69%	9.84%
Top Net Foreign Trade
			Price Change
Stock	Price	Net Foreign Buy	Previous	Last Week
SMPH	14.48	40,167,684	-0.14%	-0.69%
SM	819.00	39,680,065	0.55%	0.49%
GTCAP	568.00	26,083,030	2.53%	4.80%
MEG	2.47	23,080,730	-0.80%	-1.20%
FPH	91.80	22,409,868	2.57%	-2.34%
			Price Change
Stock	Price	Net Foreign Sell	Previous	Last Week
MER	252.60	(256,348,744)	0.80%	-4.97%
PNB	71.95	(135,004,615)	0.21%	0.21%
TEL	2,506.00	(104,841,600)	0.16%	-4.71%
MBT	95.25	(62,713,314)	0.21%	-1.35%
SECB	155.10	(51,393,814)	1.04%	-4.85%
PSE Index
			Price Change
Stock	Price	Value	Previous	Last Week
AC	449.80	400,455,802	1.03%	0.40%
AEV	48.70	20,173,240	-0.20%	-0.20%
AGI	15.08	148,209,572	0.53%	0.00%
ALI	22.85	105,706,835	2.24%	-0.22%
AP	34.35	77,430,525	-0.43%	2.08%
BDO	68.00	258,590,357	0.37%	-1.38%
BEL	5.12	9,271,406	0.00%	-0.58%
BPI	85.40	102,650,713	0.23%	-0.12%
DMC	53.00	96,649,971	-1.58%	1.73%
EDC	6.88	306,766,389	1.62%	3.61%
FGEN	23.25	77,188,610	1.97%	3.10%
GLO	1,150.00	20,833,230	1.95%	0.61%
ICT	69.90	24,056,046	0.43%	-0.14%
JFC	107.50	27,338,769	4.27%	1.90%
JGS	34.00	84,290,110	1.19%	0.00%
MBT	95.25	278,390,510	0.21%	-1.35%
MEG	2.47	95,036,900	-0.80%	-1.20%
MER	252.60	400,345,246	0.80%	-4.97%
MPI	4.30	95,500,130	0.00%	0.70%
MWC	31.20	57,888,700	0.81%	5.58%
PCOR	10.70	7,594,758	0.38%	-0.37%
PX	13.50	72,301,868	-3.43%	-8.16%
RLC	18.70	28,626,918	0.00%	0.75%
SCC	219.80	23,157,714	-0.09%	-0.09%
SM	819.00	248,686,305	0.55%	0.49%
SMC	108.60	37,848,664	-0.46%	-0.37%
SMDC	5.98	5,953,434	0.50%	-1.48%
SMPH	14.48	132,786,370	-0.14%	-0.69%
TEL	2,506.00	290,738,890	0.16%	-4.71%
URC	76.00	69,059,848	-1.23%	1.74%