For the last few days AGI, MEG shares were moving sideways. Noted that foreign selling was heavy lead by CLSA, followed by JP Morgan, Deutsche, and ATR. What made the foreigners panic? Well, TSI was expected to move upward above 10 but it was stucked to 9 and swung below 8.50. IPO of it's hotel group in venture with Genting was cut into halves. I thought of grabbing more of AGI @ 23 but it doesn't dipped to that level. It was supported well at 23, however, grabbed few at 23.50 and holding the shares up to 25.50 which I believe highly probable.


Megaworld, GERI were not isolated, both were dragged down by the panic. Logically speaking, I want AGI for it's diversified portfolio and the growth driven by Megaworld and Emperador. GERI has a big potential on its better position of landbank in Boracay, Maribago, and the Fairways and Blue Water (formerly crown project of Fil-estate). Resort World Manila is generating high inflows from the Casino operations. Looking at AGI chart, it seems that the support @ 23 was strong and broke the 23.5-24 resistance, hopefully direct to 25.

In the disclosure to the exchange the backdoor listing of Emperador was priced at 8.99 below the expected price of 11-12. I would say that the stock fall was temporary given the strong financial position of AGI. I am optimistic that foreign BUYING will spark at the mid of the month once the issue on IPO of hotel group is ironed out. MEG continue to show a robust growth in terms of its high end residential sales and BPO leasing. The Iloilo BPO center will be another big cow for MEG. The chart of MEG is trending sideways, 3.10-3.40 but still attractive. I would be happy to enter below 3.20 for a sure upside of 7-9%, not bad.
GERI lost it's support @ 1.40 and continue its descend, dunno it the issue will dip to 1.00 par, in which I will be happy to accumulate. This is the year low trade for GERI shares, maybe, the shares will need attention and a possible play will drive it back. I like GERI and I believe 2.0 level is not impossible.
BLOOM is on my watch!