Top Ten Smart Money Moves – April 19, 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 19, 2017 Data)
Total Traded Value – PhP 5.555 Billion – Low
Advances Declines Ratio – (Ideal is 2:1) 125 Declines vs. 46 Advances = 2.72:1 Bearish
Total Foreign Buying – PhP 3.001 Billion
Total Foreign Selling – (PhP 3.308 Billion)
Net Foreign Buying (Selling) – (PhP 0.307 Billion) – 3rd day of Net Foreign Selling after 9 days of Net Foreign Buying
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:
Shares drop on Wall Street’s slump, lack of leads
Posted on April 20, 2017
STOCKS fell on Tuesday following Wall Street’s decline and amid the lack of positive catalysts locally.
The Philippine Stock Exchange index dropped by 0.87% or 66 points to close at 7,522.98.
The broader all-shares index also likewise slipped, closing at 4,502.07, down 0.76% or 34.77 points.
“I think this downward trend is just technical, as traders are going into accumulation. We have reached the support and so it always bounces back,” Summit Securities, Inc. President Harry G. Liu said in a phone interview.
Meanwhile, Regina Capital Development Corp. Managing Director Luis A. Limlingan said Wall Street’s slump also dragged the local market.
“Philippine markets were sold down heavily mostly in reaction to US equities falling on Tuesday after Goldman Sachs shocked Wall Street by missing estimates,” Mr. Limlingan said.
Goldman Sachs Group, Inc. fell short of earnings expectations on Tuesday due to a drop in quarterly trading revenue, prompting analysts to demand explanations for underperformance in an area where the bank usually outshines rivals.
The Dow Jones Industrial Average fell 113.64 points or 0.55% to 20,523.28; the S&P 500 lost 6.83 points or 0.29% to 2,342.18 and the Nasdaq Composite dropped 7.32 points or 0.12% to 5,849.47.
“Investors also remained vigilant amid US-North Korea tensions and the nearing of the French presidential election,” Mr. Limlingan added.
Asked for possible leads, Summit Securities’ Mr. Liu said: “Right now there are still no catalysts, but if you look at the papers today people are expecting the Philippines to be one of the most active ones in Asia so that will gain momentum for the market in the coming months.”
Financials was the lone sectoral counter to end in the green as it eked out a gain of 0.04% or 0.81 point to 1,874.23.
Services led losers, dropping by 1.74% or 27.94 points to 1,570.18, followed by industrials which went down by 1% or 113.25 points to 11,184.75. Holding firms also fell 1% or 77.20 points to 7,604.75; mining and oil lost 0.65% or 79.10 points to 12,004.11; and property slipped 0.59% or 19.57 points to 3,292.64.
Value turnover was slightly higher at P5.56 billion yesterday from Tuesday’s P5.05 billion, with 966.47 million shares changing hands.
Decliners outpaced advancers, 125 to 67, as 46 issues remained unchanged. Foreigners continued to dump their shareholdings, with net foreign selling logged at P306.71 million yesterday, climbing from Tuesday’s P186.37 million.
“After this month, things will be more aggressive in terms of upward pressure,” Mr. Liu said.
Most Southeast Asian stock markets also fell on Wednesday as investors favored safe-haven assets ahead of French presidential elections though tensions over geopolitical uncertainties eased.
Asian stocks excluding Japan hit their lowest since mid-March. — A.B. Francia with Reuters
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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/.
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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