Top Ten Smart Money Moves – April 24, 2018
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 24, 2018 Data)
Total Traded Value – PhP 6.053 Billion – Low
Advances Declines – (Ideal is 2:1) 143 Declines vs. 68 Advances = 2.10:1 Bearish
Total Foreign Buying PhP 3.365 Billion
Total Foreign Selling – (PhP 3.540) Billion
Net Foreign Buying (Selling) (PhP 0.175) Billion – 4th day of Net Foreign Selling after a day of Net Foreign Buying
Data from the Philippine Stock Exchange
Screenshot courtesy of PSE.com.ph
PSE HEAT MAP
Screenshot courtesy of PSEGET
Top Ten Foreign Buying and Selling
Top Ten in Total Traded Value
Top Ten Gainers and Losers
From now on, I will just quote the related article from Business World so that we will have everything in one piece:
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PHL shares decline further as correction continues
April 24, 2018 | 6:05 pm
SHARES FELL on Tuesday, continuing a downward trajectory, as the region provided no fresh leads for investors to trade on.
The bellwether Philippine Stock Exchange index (PSEi)plunged 1.54% or 119.11 points to 7,600.36 Tuesday, Apr. 24, while the broader all-shares index also lost 1.26% or 59.32 points to 4,617.77.
“Philippine markets continued to sell down as investors continued to stay on the sidelines without any catalysts from regional market,” Regina Capital Development Corp. Managing Director Luis A. Limlingan said in a mobile phone message.
PCCI Securities Brokers Corp. Research Head Joseph James F. Lago noted that this is a continuation of the market’s correction that has been in place since Jan. 30.
“Rising global yields, particularly that of US Treasuries, have been the main culprit coupled with the domestic inflation that will certainly be at the 4+% range for the whole year given the short-term impact of the TRAIN (Tax Reform for Acceleration and Inclusion) law and the continued rise of crude prices,” Mr. Lago said in an e-mail.
The PCCI Securities analyst noted that there may be an impact on both the country’s economic growth and corporate profits with higher domestic rates.
Back home, all sectoral counters remained in negative territory, with property leading the decline with a 2.03% drop or 72.85 points to 3,514.84. Mining and oil declined 1.8% or 189.59 points to 10,343.13, followed by industrials which dropped 1.78% or 197.71 points to 10,878.89.
Financials fell by 1.44% or 28.75 points to 1,964.57; holding firms lost 1.19% or 91.10 points to 7,540.83; while services gave up 0.72% or 11.30 points to 1,552.84.
Some 2.3 billion issues valued at P6.53 billion switched hands, lower than Monday’s P5.48 billion.
Declining stocks prevailed for the day at 143 versus 68 that gained and 40 that remained flat.
Foreign investors were net sellers for the fourth consecutive day as they dumped a net P175.32 million worth of funds, although lower than the P308.2 million in net sales on Monday.
“At the current trajectory, the PSEi might test the 7,500 level within the short-term. With relative valuations much more attractive than what it was 3 months ago, a support might be found at this level,” Mr. Lago said.
Overseas, markets in the United States ended mixed. The Dow Jones Industrial Average dipped 0.06% or 14.25 points to 24,448.69. The S&P 500 index barely moved, adding 0.01% or 0.15 point to 2,670.29, while the Nasdaq Composite index lost 0.25% or 17.53 points to 7,128.60.
Meanwhile, most Southeast Asian stock markets came under pressure on Tuesday as concerns over US inflation and fiscal deficit pushed up treasury yields, stoking a sell-off in equities.
US bond prices have fallen for the past four days, pushing up the 10-year yield to 2.998%, its highest since January 2014. — A.B. Francia with Reuters
Source: http://bworldonline.com/phl-shares-decline-further-as-correction-continues/
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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/. For those interested in the hard copy, please send email to: ninjatrader919@gmail.com Subject: The Responsible Trader – Hard Copy.
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Good luck on all your TRADES today.
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.
Starting with August 11, 2017 data we are including the Top Ten Gainers and Losers for a more comprehensive coverage of significant stock movements during the day.