Top Ten Smart Money Moves – August 25, 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 August 25, 2017 Data)
Total Traded Value – PhP 6.251 Billion – Low
Advances Declines – (Ideal is 2:1) 97 Advances vs. 97 Declines = 1:1 Perfectly Neutral
Total Foreign Buying – PhP 2.948 Billion
Total Foreign Selling – (PhP 2.930) Billion
Net Foreign Buying (Selling) –PhP 0.018 Billion – 2nd day Net Foreign Buying after a day of Net Foreign Selling
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
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:
PHL stocks seen sideways after Fed symposium
August 29, 2017
LOCAL SHARES will continue trading sideways this week, with the market to take its lead from Wall Street following speeches by key central bankers at a Federal Reserve-led economic symposium in Wyoming.
The Philippine Stock Exchange index (PSEi) climbed by 0.12% or 10.21 points to finish at 8,015.14 last Friday on profit taking.
The broader all-shares index likewise rose 0.19% or 9.26 points to close at 4,749.06 at the end of the week.
“Attention is in place on US markets’ reaction over Friday’s results from Jackson Hole economic symposium, with special emphasis on whether or not authorities would be able to achieve their 2% inflation goal,” online brokerage 2TradeAsia.com said in a weekly market note.
US Federal Reserve chief Janet L. Yellen’s speech at the annual meeting of central bankers in Jackson Hole, Wyoming focused on financial stability while giving no hint on monetary policy, leaving the prospect of more interest rate hikes up in the air. She said the reforms put in place after the 2007-2009 financial crisis have strengthened the financial system, without impeding economic growth.
Meanwhile, a speech by European Central Bank chief Mario Draghi gave little guidance on tapering the bank’s bond holdings and heralded globalization over protectionism.
Last Friday, the Dow Jones Industrial Average rose 30.27 points or 0.14% to end at 21,813.67; the S&P 500 gained 4.08 points or 0.17% to 2,443.05 and the Nasdaq Composite dropped 5.68 points or 0.09% to 6,265.64.
On the local front, the brokerage cited the government’s inability to explain where it will get the funding for its massive infrastructure program as one of the factors preventing the main index from climbing to a new all-time high.
“How to fund the local government’s $1.13-trillion infra[structure] plan for 2018 is among the near-term ‘caps’ why the market is unable to trounce beyond its present trading band. Legislative leaders need to focus in approving and detailing a sustainable economic map for the Philippines, especially after the fiscal deficit for the first 7 months hit P205 billion (+20% year on year),” 2TradeAsia.com said. “This could incite expectations for increased pressure to raise local interest rates.”
The government incurred a fiscal deficit of P50.51 billion in July, bringing its seven-month deficit to P205 billion.
“Despite the challenges, the Philippine’s prospects remains encouraging, given fiscal and monetary leaders’ goal to improve competitiveness and productivity. Concrete details are keenly awaited however, as several large-caps’ capex (capital expenditure) initiatives and timing are dependent on government’s project priorities and timeline,” the brokerage added.
Analysts placed the PSEi’s immediate support for the week at 7,950, while resistance should be within the narrow range of 8,050 to 8,080. — A.B. Francia 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 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.