Top Ten Smart Money Moves – April 12, 2017
Top Ten Smart Money Moves, starting January 2015, is the official trading newsletter of The Responsible Trader to promote his advocacy, Responsible Trading. This newsletter contains the previous day’s data from PSE, the Top Ten Foreign Buying and Selling, Top Ten in Total Traded Value, including Trading Notes based on the data of the previous day. This newsletter is given free to all the friends of The Responsible Trader and to members of the Facebook group and the other organizations where he is a member. For the previous issue where complete details about the newsletter was fully discussed, please refer to: Daily Top Tens October 17, 2014.
Trading Notes for Today – (Based on April 12, 2017 Data)
Total Traded Value – PhP 6.190 Billion – Low
Advances Declines Ratio – (Ideal is 2:1) 113 Advances vs. 63 Declines = 1.79:1 Neutral
Total Foreign Buying – PhP 3.943 Billion
Total Foreign Selling – (PhP 3.834 Billion)
Net Foreign Buying (Selling) – PhP 0.109 Billion – 9th day of Net Foreign Buying after 2 days of Net Foreign Selling
Data from the Philippine Stock Exchange
Screenshot courtesy of: www.pse.com.ph
PSE HEAT MAP
Screenshot courtesy of PSEGET
Top Ten Foreign Buying and Selling
Top Ten in Total Traded Value
From now on, I will just quote the related article from Business World so that we will have everything in one piece:
Local shares to sustain rally on positive sentiment
Date issued: April 17, 2017
STOCKS are expected to continue their rally this week as the market reopens this week amid optimism about the country’s economic growth and traders’ anticipation of first quarter results of listed companies.
The Philippine Stock Exchange index rallied within the 7,600 levels during the shortened trading week, hitting multi-month highs. Last Wednesday, the bellwether index closed at 7,629.64, up from the previous day’s 7,601.40 and also higher than its finish of 7,583.75 on April 7.
Local equities defied the performances of other markets last week: the Dow Jones Industrial Average slipped 138.61 points or 0.67% at 20,453.25, the S&P 500 fell 15.98 points or 0.68% at 2,328.95, and the Hang Seng Index dropped 51.84 points or 0.21% at 24,261.66.
For the coming days, analysts said last week’s run could be sustained due to the market’s positive trajectory.
“Post-Easter rallies run high, especially after our local bourse has shown signs of resurgence following its breakout from its sideways trend since January. Funds have shifted back to Philippine shores, backed by international agencies’ encouraging outlook on the economy’s fundamentals. Optimism may soon build in the coming months, ahead of 1Q (first quarter) interim announcements from listed shares,” according to online brokerage 2TradeAsia.com.
“It will become more aggressive most probably towards the end of the first half of the year. Reports are coming out. People right now are accumulating,” Summit Securities President Harry G. Liu said in a phone interview last week.
“Second quarter will be about accumulation and consolidation, waiting for more positive news from the company’s reports,” Mr. Liu added.
Pronouncements from world leaders and businessmen in the upcoming International Monetary Fund (IMF) meeting on April 21 and Organization of the Petroleum Exporting Companies Ministers’ Meeting on April 22 may likewise affect trading, as they discuss rising tensions in the global scene today.
The IMF is expected to issue warnings on US President Donald J. Trump’s protectionist policies, with the multilateral lender’s Managing Director Christine Lagarde saying that putting up barriers to trade would be a self-inflicted wound to an improving global economy.
Locally, Summit’s Mr. Liu said the strength of the economy is lifting the market so far, despite uncertainties in the country’s political situation. “Our local market seems to be accepting any political situation that we have right now. For the economic situation it seems to be improving, more infrastructure projects are on the way, companies are growing.”
“Focus on pluses as long-term players seize on weakness to reposition excess funds,” according to 2TradeAsia.com.
This week, the immediate support is pegged at 7,600, with resistance seen within the range of 7,700 and 7,730. — Arra B. Francia
We aim to continue promoting financial literacy on the area of stock market trading and investing to our countrymen both here and abroad through the following:
1. The Book: “The Responsible Trader – a Thinking Person’s Guide for Trading the Philippine Stock Market” now earned the name “The Bible of Philippine Trading.” You can download Chapter 1, Section 1 of the book here: http://theresponsibletrader.com/the-responsible-trader-hope-for-trading-knowledge-test/.
As requested by those abroad and those who want the book in digital form, we have produced an eBook version. For those interested please send email to: email@example.com Subject: The Responsible Trader – eBook Version.
2. The Website: :http://www.theresponsibletrader.com where we publish our daily newsletter Top Ten Smart Money Moves, Stock Trading Lessons, and Inspirational Materials. (FREE)
3. The YouTube Channel: https://www.youtube.com/theresponsibletrader – where you can learn the course “Master’s Certificate in Technical Analysis” which was simplified in an easily understood manner. You can download these videos and learn them at your own convenient time. (FREE)
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DISCLAIMER There is a very high degree of risk involved in TRADING. Past results are not indicative of future returns. Nothing contained in this newsletter constitutes a solicitation, recommendation, PROMOTION or endorsement of any security. In accordance with the Responsible TRADER’s Creed: I will never tell and you take full responsibility for all your TRADING results
NOTES: Please take note of the following changes effective August 6, 2015: 1. Caption Market Breadth has been changed to Total Traded Value to simplify the presentation. 2. Market Breadth is expressed in terms of Number of Advances and Declines. Expressing this as a Ratio by using the larger number as Numerator we derive the Market Sentiment whether Bullish or Bearish. 3. Based on Past three-year data of Average Total Traded Values, following classifications will be used to make the presentation more relevant to present times. a. Low – Total Traded Value less than PhP 8 Billion b. Medium – Total Traded Value Php 8 Billion but not more than P15 Billion c. High – Total Traded Value more than Php 15 Billion