The Philippine Stock Market looks bearish for long term

This is depressing for retail investors in the Philippines, the past few days were bloody. Here's a long term analysis according to me. Using wave theory on a monthly chart, the most recent peak(08/31/2011) is a wave B of a Flat, the B just went a little above 123.6% fibonnaci measurement of wave A. There is a little a chance that wave C will retrace all of wave B. The expected completion of downward wave C is on 2014, which will or will not retrace the 1600 level, 100% Fibonacci time is on June 2014, which means end of the bear market around that time of year. This is the outlook for now, no signs of reversal are seen as of now.

Philippine Peso Bills

Maybe a lot of Filipinos are not aware that the 5 and 10 Philippine peso bill are still legal tenders today. These bills are no longer printed but you can still pay with these. I tried paying a 10 peso bill while I was commuting and it still works. Others do not know that a 2000 and a 100,000(Yes that's right, one hundred thousand) Philippine peso bill exist, both were printed as a commemoration of the Philippine's 100th Year of Independence. The Central Bank of the Philippines only issued 300,000 pieces of the 2000 peso bill. The world's largest banknote was our 100,000 Philippine peso bill and now has a value of about 180,000 pesos.