Wednesday, February 2, 2011

Foreign Activity

NFS for today amounted to around 340M. That's 1Bil NFS in two days. Since the foreign brokerage houses can short on their own, they are probably covering up today.

Foreign selling is still very heavy in BDO with another 220M(180 yesterday) while the second heaviest foreign selling yesterday FLI turned around today with 49M NFB.

Foreign buying has also began in certain issues today like AP with 81M, FLI 49M and CEB 48M.

If the foreigns stop depressing the market, we could actually climb a little higher in the short term (so they could short again with better gains).

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