There is this Spanish proverb that conveys a message whose meaning is similar to the title of my article today.
Interestingly, even when it is translated literally into English, word for word, the meaning of the message is graphically and vividly retained—the Spanish form goes this way: “poco a poco se va lejos.”
Indeed, I believe the market has “little by little” traveled far from where it has been. At the same time, it appears that it is also now—slowly but surely—moving up.
Market revelation
One may readily accept the notion about the market as having slowly but surely moved far from where it has been, as trading is now on its fourth month since the start of the year. However, one might find it difficult to accept the idea that it is now truly on the uptrend.
Come to think of it, after the market’s run-up in January and February, it has actually been moving in some series of advances and retreats, with no apparent significant consequence.
As can be seen from the market’s trading performance from March up to last week, for every period of advance, the market equally goes into a period of loss, leaving the market to end with a small net loss or slight gain only.
Within this statistical result, however, is a development that seemed to change the character and pattern of movement of the market this month of April.
If you will notice, notwithstanding the continuing pattern of retreats and advances that continue to define the market’s behavior, it has been silently trading above its Rubicon—the 6,500 resistance level—since April 1.
Holy Week revelation
I was also surprised by another revelation while going about my spiritual obligations during the Holy Week. Its impact correlates with the attraction of investments from investors, foreign and local, that will certainly stir productivity, market activity and economic progress in the country.
With the same type of assertiveness and boldness that has characterized the brand of spiritual leadership of Pope Francis in addressing important social issues, Cardinal Luis Antonio Tagle came up with a message for the Catholic faithful during the Holy Week when he said, “join politics to clean politics.”
On the surface, this looks like another controversial incursion or meddling by the church’s leadership to the state that might, again, put to test the age-old principle of separation of church and state.
Thus, giving the admonition deeper thought within the context captured in the constitution, the good Cardinal’s message did not at all involve an iota of violation in the principle of separation between the church and state.
What the good Cardinal has done can be likened to Pope Francis’ recent controversial spiritual teachings to address social problems.
What Cardinal Tagle simply did last Lenten week was to tell the Catholic faithful to practice the tenets of Christian life in politics.
Bottom line spin
The most vehement opposition I have received from readers and analysts on my views about the market up to the present, pale far from the contrary reaction I heard from people on the good Cardinal’s admonition.
“Politics,” they chorused, “is so big and difficult to handle, it will change you more than you can change it,” oblivious of the fact, that the greatest idea that made a great change in the life of man and humanity was that of one person—the very reason for observing Lent. Happy Easter!
The writer is a licensed stockbroker of Eagle Equities, Inc.. You may reach the Market Rider at marketrider@inquirer.com.ph, densomera@msn.com or at www.kapitaltek.com