Top Ten Smart Money Moves – August 24, 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 24, 2016 Data)
Total Traded Value – PhP 9.967 Billion – Medium
Market Breadth and Sentiment indicated by Advances Declines Ratio – (Ideal is 2:1 to be considered Bullish or Bearish) 136 Declines vs. 55 Advances = 2.47:1 Bearish
Total Foreign Buying – PhP 4.268 Billion
Total Foreign Selling – (PhP 5.756) Billion
Net Foreign Buying (Selling) (PhP 1.488) Billion – 2nd 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:
Foreign selling drags PSEi below 7,900 territory
Posted on August 25, 2016
By Victor V. Saulon, Sub-Editor
THE main index failed to sustain its hold above the 7,900 — a level it stuck to for over a week — after foreign investors dumped over P1 billion of shares amid jitters over the direction of US interest rates.
Joseph Y. Roxas, president of Eagle Equities, Inc., said the market was having difficulty pushing for a rally.
“There might be a pullback first,” he said.
The Philippine Stock Exchange index (PSEi) declined by 69.05 points or 0.87% to 7,866.13, while the broader all-shares index slipped by 36.31 points or 0.77% to 4,662.63.
Miko A. Sayo, a trader at Angping & Associates Securities, Inc., blamed the decline to foreign selling. He expects the next support at 7,750. Early in the week, he was “cautiously bullish” as the market appeared to be holding on above 7,900. The PSEi stayed above the 7,900-mark for nine days after rising past 8,000 for two days.
Foreign investors sold P5.76 billion worth of shares and bought far less at P4.27 billion, resulting in a net selling of P1.49 billion, or more than three times Tuesday’s P464.51 million.
The total value of trading increased to P9.97 billion, up nearly 46% from P6.85 billion previously.
Five stocks lost for every two that rallied or 136-55, while 48 issues finished unchanged.
The mining and oil index was the only sector that finished in the green as it gained 38.92 points or 0.37% to 10,651.66. Global Ferronickel Holdings, Inc. was among the top gainers.
Industrial stocks recorded the biggest drop at 165.43 points or 1.38% to 11,831.36.
PhilWeb Corp. shares surged by 17.39% to close at P5.40 each. The listed gaming company wrote a letter to the Philippine Amusement and Gaming Corp. (Pagcor), presenting its business plan that is based on a proprietary software developed by the company that allows a lotto bettor to text his chosen number to PhilWeb or Pagcor servers via Smart mobile phones. PhilWeb placed the potential revenue from the proposal, called Pagcor text bonanza, at P50 billion to P100 billion a year.
Universal Robina Corp., Ayala Land, Inc., Security Bank Corp., Robinsons Retail Holdings, Inc. and Megaworld Corp. were the most active stocks.
Losing the most on Wednesday’s session were Leisure & Resorts World Corp., Bloomberry Resorts Corp., Pryce Corp., SOCResources, Inc. and Makati Finance Corp.
Before yesterday’s session, 2TradeAsia.com was expecting some gains, which it said might be offset “by the growing concerns ahead of the Jackson Hole symposium on Friday as investors will be taking their cue from any hints on what will be the decision on the Fed’s next meeting on September. Immediate support 7,890, resistance 8,000.”
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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