Top Ten Smart Money Moves – August 23, 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 23, 2016 Data)
Total Traded Value – PhP 6.847 Billion – Low
Market Breadth and Sentiment indicated by Advances Declines Ratio – (Ideal is 2:1 to be considered Bullish or Bearish) 117 Declines vs. 72 Advances = 1.63:1 Neutral
Total Foreign Buying – PhP 3.191 Billion
Total Foreign Selling – (PhP 3.656) Billion
Net Foreign Buying (Selling) (PhP 0.465) Billion – 1st day of 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:
Stocks tread water ahead of Jackson Hole meet
Posted on August 24, 2016
THE Philippine Stock Exchange index (PSEi) retreated by 0.58% on Tuesday’s session in what analysts described as anemic trading days ahead of the US central bank chief’s speech on Aug. 26.
The bellwether index lost 46.03 points to end trading at 7,935.18, tracking Wall Street.
“The US was flattish to negative on account of [investors staying] on a wait-and-see mode before [Federal Reserve Chair Janet] Yellen’s talk on Friday,” said Luis A. Limlingan, business development head at Regina Capital Development Corp.
Ms. Yellen is scheduled to speak before global policy makers at an annual symposium in Jackson Hole, Wyoming.
Asia shares inched up on Tuesday. MSCI’s broadest index of Asia-Pacific shares outside Japan added 0.3% in slow trade. South Korea , Australia and Shanghai all gained.
Japan’s Nikkei went the other way and eased 0.6% as the yen ground higher on the dollar.
The whole world seems to have hushed ahead of comments from Ms. Yellen. Investors still doubt the stars will align for a hike anytime soon, so a hawkish tone from Ms. Yellen would challenge that equanimity.
“Ever so slowly, the market does seem to be reluctantly acknowledging the chorus of senior Fed speakers who have suggested recently that a 2016 rate hike is still quite probable and September is ‘live,’” wrote analysts at ANZ in a note.
Ahead of that event, all-shares dropped 24.07 points or 0.51% to close at 4,698.94.
“I expect it to consolidate ahead of Yellen’s speech at Jackson Hole,” said Miguel A. Agarao, vice-president Philequity Management, Inc.
It didn’t help either that oil prices in the international market were down, said Mr. Limlingan noting that could mean demand for the commodity may be falling, an indication that the global economy is still soft.
“So we’re feeling the effects [of the decline in oil prices],” he said describing the impact on the Philippines, a net importer of the product.
Only the financials index closed higher at 1,839.77, or a gain of 2.68 points or 0.14%. Services recorded the biggest decline, paring 25.18 points or 1.57% to 1,576.16. Industrial stocks were down 150.13 points or 1.24% to 11,996.79.
Property shares slipped by 24.27 points or 0.67% to 3,607.04. Holding firms declined by 14.36 points or 0.18% to 7,891.52. The mining and oil index retreated by 14.80 points or 0.14% to 10,612.74.
Universal Robina Corp., Metro Pacific Investments Corp. and SM Prime Holdings, Inc. were the most actively traded stocks.
Yesterday, trading volume swelled to P6.85 billion from P6.32 billion the day before, with 117 issues going down as against 72 that advanced. The trading day closed with 44 stocks staying unchanged.
Net foreign selling amounted to P464.51 million, as investors bought P3.19 billion worth of shares and sold P3.66 billion. — Victor V. Saulon with Reuters
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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