Top Ten Smart Money Moves – December 1, 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 December 1, 2017 Data)
Total Traded Value – PhP 9.741 Billion – Medium
Advances Declines – (Ideal is 2:1) 134 Declines vs. 59 Advances = 2.27:1 Bearish
Total Foreign Buying – PhP 5.380 Billion
Total Foreign Selling – (PhP 5.570) Billion
Net Foreign Buying (Selling) – (PhP 0.190) Billion – 1st day of Net Foreign Selling after a days 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
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:
Shares to take cue from tax reform bill progress
December 4, 2017
By Arra B. Francia, Reporter
LOCAL EQUITIES are expected to get a push from the final version of the government’s tax reform program as the country’s legislators accelerate deliberations ahead of the Christmas break.
The 30-member Philippine Stock Exchange index (PSEi)stayed in negative territory last week, closing 1.33% or 110.01 points lower at 8,144.02 on Friday.
Week on week, the local bourse dropped 221.09 points or 2.71%.
“Our market didn’t manage to stay above (the 8,200 level) so I’m expecting the tax reform deadline this month may provide a cushion to this volatile market and it might push our market a bit higher before yearend,” Timson Securities, Inc. equities trader Jervin S. de Celis said in a text message last week.
RCBC Securities, Inc. equities trader Jeffrey Lucero noted the same, saying he would “want to see a package that is not significantly watered down.”
The bicameral conference committee, composed of members from both the Senate and House of Representatives, are hopeful that they can reconcile the two versions of the bill before Congress goes on break on Dec. 15.
Stark differences between the two draft bills include the revenues expected to be generated during its first year of implementation, where the Senate version computed around P130 billion against the House’s P133.8 billion. The two versions also have different tax rates on automobiles, sugar-sweetened beverages, fuel, mining, coal, cosmetic procedures as well as prescription drugs.
“But if that catalyst fails to buoy investor sentiment if the index fails to stay above 8,100 then we might see the start of the downtrend soon,” Mr. De Celis noted.
Online brokerage 2TradeAsia.com meanwhile attributed last week’s downward trajectory to “typical changing of hands.”
“Encountering skeptics is part of the trading process, especially for players who run short of their view of the entire picture of regional economies’ healthy mix of return and risks,” the online brokerage said in a weekly market note.
The bourse ended the week with all sectoral indices in the red, with the property subindex posting the biggest decline at 1.52% or 59 points to 3,808.92. The services sector meanwhile had the least losses at 0.78% or 12.62 points to close at 1,597.78.
The index likewise held a net foreign selling position of P190 million, from a net inflow of P1.22 billion recorded in the previous trading day.
“At the end of the day, it all boils down on expected yields, and aggressive capex (capital expenditure) line-up is among fund managers will be aiming for. The capex plan will help support growth outlook for 2018 and fundamental merits will be considered,” according to 2TradeAsia.com.
Analysts pegged immediate support of the market to be within 8,000 to 8,100, with resistance at 8,300 to 8,400.
In line with our VISION, A RESPONSIBLE IN EVERY FILIPINOS HOME, we aim to continue promoting financial literacy on the area of stock market trading and investing to our countrymen both here and abroad through the following:
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: email@example.com Subject: The Responsible Trader – Hard Copy.
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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.