Top Ten Smart Money Moves – December 22, 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 22, 2017 Data)
Total Traded Value – PhP 10.152 Billion – Medium
Advances Declines – (Ideal is 2:1) 108 Advances vs. 96 Declines = 1.13:1 Neutral
Total Foreign Buying – PhP 1.729 Billion
Total Foreign Selling – (PhP 1.543) Billion
Net Foreign Buying (Selling) – PhP 0.186 Billion – 2nd day of Net Foreign Buying after 4 days 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:
Shares seen sideways on 2017’s last trading days
December 27, 2017
THE MAIN INDEX will likely see thinner volume during the shortened trading week as foreign fund managers take a break for the holiday season.
The 30-member Philippine Stock Exchange index (PSEi) finished in the green last Friday, rising 0.64% or 54.03 points to 8,432.31, before taking a two-day break on Dec. 25 and 26 for the Christmas holidays.
“Local participants might dominate the week’s three-day trading session focusing mostly on second- and third-tier shares. Any weakness in select large-cap stocks would be a good window for players to move in, especially those with good stories to unfold next year,” online brokerage 2TradeAsia.com said in a weekly market note.
The online brokerage added that investors will be watching out for the capital expenditure (capex) programs of listed firms, as this would dictate their growth prospects in 2018.
Among the companies that have already announced their capex programs for 2018 are Metro Pacific Investments, Corp. (MPIC), Ayala Land, Inc. (ALI), and Aboitiz Equity Ventures, Inc. (AEV).
MPIC has set its spending for next year at P100 billion as it focuses to grow its tollroads, power, water, rail, hospital, and logistics businesses. For its part, property giant ALI disclosed that while it has yet to set the final figure, its capex could reach P100 billion in 2018 as they launch more residential projects, counting on the surge of demand for more housing developments.
Meanwhile, AEV will be trimming its capex to around P40-P50 billion in 2018, lower than the P77 billion it allotted this year, while still focusing on the growth of its power business.
As this will be the last week of trading for this year, analysts are already placing bets that the bellwether index could rally to breach the 9,000 mark next year.
First Grade Finance, Inc. Managing Director Astro C. del Castillo noted that this could come on the back of the Tax Reform for Acceleration and Inclusion (TRAIN) Act signed by President Rodrigo R. Duterte earlier this month.
“The political will of the president in getting the necessary legislations passed will help push investor sentiment up, and easily push the index toward the 9,000 level in 2018,” Mr. Del Castillo said in an interview last week.
Changes in the country’s tax program will be implemented come Jan. 1 as part of the first of five packages under TRAIN.
“As the news gets finally absorbed, anticipate some fund managers to lock in on rallies, until the net benefit of the sector gets known,” 2TradeAsia.com said.
Analysts pegged the market’s immediate support within the range of 8,370 to 8,400, with resistance from 8,500 to 8,570.
Meanwhile, Wall Street’s major indexes dipped on Friday in low trading volume before the holiday weekend as several blue-chip stocks slipped, including Nike.
President Donald J. Trump signed a massive $1.5-trillion tax overhaul into law on Friday and also approved a short-term spending bill that averts a possible government shutdown. — 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.