Top Ten Smart Money Moves – August 17, 2016
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 August 17, 2016 Data)
Total Traded Value – PhP 9.474 Billion – Medium
Market Breadth and Sentiment indicated by Advances Declines Ratio – (Ideal is 2:1 to be considered Bullish or Bearish) 97 Advances vs. 87 Declines = 1.11:1 Neutral
Total Foreign Buying – PhP 4.478 Billion
Total Foreign Selling – (PhP 5.476) Billion
Net Foreign Buying (Selling) (PhP 0.998) Billion – 4th day of Net Foreign Selling after a day 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:
PSEi declines on Fed comments, foreign selling
Posted on August 18, 2016
LOCAL STOCKS retreated anew on Wednesday as the second-quarter earnings season wrapped up, with companies reporting mixed results just ahead of the release of the country’s economic growth figure for the period.
The Philippine Stock Exchange index (PSEi) closed lower by 37.19 points or 0.46% to 7,946.19.
The all-shares index lost 16.49 points or 0.35% to 4,697.11.
“The market is correcting due to foreign selling and weak earnings from some listed companies,” said Miguel A. Agarao, vice-president Philequity Management, Inc.
“Given its 30% recovery from the bottom of 6,084 this year, the PSEi is ripe for a correction,” he added.
“Foreign selling [is] affecting the market,” said Miko A. Sayo, a trader at Angping & Associates Securities, Inc.
Foreign investors sold P5.48 billion worth of stocks yesterday, which was more than they bought that totaled P4.48 billion, resulting in a net selling of P998.45 million shares.
2TradeAsia.com said hawkish comments from a Federal Reserve member likely also caused renewed concerns over a possible Fed rate hike in September, it said in comments before trades closed.
As analysts projected, stocks have been moving sideways so far this week as investors wait on the sidelines ahead of today’s release of the second-quarter gross domestic product (GDP) data.
2TradeAsia.com said investors might take their cue from the result afterwards, adding that it expects immediate support at 7,910 with resistance at 8,020.
Angping’s Mr. Sayo projects “critical support” at 7,900, while expecting the quarterly GDP growth to be the same as the first quarter at 6.8%.
Philequity’s Mr. Agarao expects the economy to register a growth above 6%. “Consensus is 6.6%,” he said.
During yesterday’s trading, the services index was the lone sector that managed to close higher as it gained 3.01 points or 0.18% to 1,618.54.
In contrast, mining and oil stocks were again the biggest losers as they retreated by 174.81 points of 1.7% to 10,129.48.
Total trade slipped by 13% to P9.47 billion from P10.92 billion the other day.
Advancers slightly edged out decliners, at 97 against 87, while 54 stocks closed unchanged.
Southeast Asian stock markets also traded slightly lower to flat on Wednesday, as risk appetite eased after comments from US Federal Reserve officials fueled speculations of a rate hike this year.
New York Fed Reserve Bank President William Dudley said a rate hike in September was possible, while Atlanta Fed President Dennis Lockhart said the US economy is likely strong enough for at least one rate increase before the end of 2016, with two a possibility.
Yet, investors were skeptical about the Fed’s willingness to tighten policy as it had ended up keeping rates on hold in June, even after their officials talked up the possibility of rate hikes then. — Victor V. Saulon with Reuters
cks continue climb ahead of Q2 GDP report
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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 P8 Billion b. Medium – Total Traded Value P8 Billion but not more than P15 Billion c. High – Total Traded Value more than P15 Billion