As the Philippine Stock Market continues it’s downward trend, times are really getting exciting! Analysts believe the market could be near its bottom. According to BPI Securities Analyst Tristan Valerio, the market could go further down to the 6,400 to 6,500 range in the next 2 months. Trading volumes have gone down significantly from when the market peaked at the 8,000 level.
When asked if people should hold on to their cash or invest in stocks, Valerio said “People should start buying stocks already, I think we’re very close to the bottom”.
With these statements in mind, it seems there is no way but up for the PSEi. Continue to purchase regularly with fixed amounts. The market is still on sale, and it’s during these times that we can accumulate a lot of our preferred stocks.
The PSEi closed today at 6,868.98, down by 174.27 points or 2.47%. If the forecast holds true, the market can still go down by more than 200 points, that seems very possible. Still, we as investors are not interested in the exact bottom of the market. We view these dips as opportunities to buy more stocks with our monthly budget.