Sticking to my guns

So the PSE had a pretty decent rally yesterday, although I think it was more of a case of bargain hunting than a real rally spurred by investor optimism. Value turnover yesterday was not as much as you would have expected from the 3rd-4th quarter of last year.

The market has been mostly red today and I think the trend will be more or less the same for the next couple of weeks or months. The government will be releasing GDP data for the full year 2010 tomorrow, with economists expecting the government target to be breached by at least a full percentage point. If the data indeed touches the 7-7.4 percentage mark or goes higher than that, I expect the market to react with frenzied buying tomorrow. There may be a downside due to the bombing in Makati and the subsequent reactions people usually have after an event like this.

With all this volatility in our market, I see it as a great buying opportunity. I've started to slowly accumulate some of my favorite stocks, with the expectation that our market will bottom out soon enough and trade at a certain range. I have my eyes set on companies with solid fundamentals with a premium put on growth prospects; AP, DMC, EDC, MBT, SCC,and UBP. These companies have taken a beating and have been, in my opinion, oversold for some time now. I'm looking at these stocks and with numbers like the ones they do, I would rather slowly accumulate and stick to my guns. "You can never keep a good stock down"