Top Ten Smart Money Moves – December 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 December 23, 2016 Data)
Total Traded Value – PhP 6.219 Billion – Low
Advances Declines Ratio – (Ideal is 2:1) 105 Declines vs. 66 Advances = 1.59:1 Neutral
Total Foreign Buying – PhP 2.096 Billion
Total Foreign Selling – (PhP 2.759 Billion)
Net Foreign Buying (Selling) – (PhP 0.663) Billion – 11th day of Net Foreign Selling after 2 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
From now on, I will just quote the related article from Business World so that we will have everything in one piece:
PHL shares to remain weak amid lack of catalysts
Posted on December 27, 2016
AFTER STUMBLING to the 6,500 level last week, the main index is expected to remain under pressure as the year comes to a close, with investors likely to stay on the sidelines until a trigger for a rally surfaces.
The Philippine Stock Exchange index (PSEi) closed last week at 6,563.67 points, down 287 points or 4.19% week-on-week.
Global markets dropped after the US central bank’s move to raise benchmark interest rates amid tension involving US, China, and Russia.
As 2016 comes to a close, all eyes are set on 2017 prospects, specifically on the US, following the Federal Reserve’s hint for three more rate hikes this year, coupled with its transition to a new administration.
At home, with only three trading days remaining in the year, analysts said lack of catalysts here and overseas may cause the local market to trade sideways.
“As long as 6,550-6,500 support regions hold, we see the PSEi moving sideways with a slight upward bias this week. However, lack of higher low bases or other reversal patterns will eventually lead to another wave of corrective reactions,” Luis A. Limlingan, managing director at Regina Capital Development Corp., said in a mobile phone message.
“[The] index’s high volatility conditions remain to be a big hurdle coming into this week,” he said.
The analyst noted that the main index will still see intraday swings of up to 100 points which suggests that the 6,460 price target can be hit within one trading day so long as investors find a reversal from the current volatility hunting the market.
“Market volatility can also be utilized when entering short-term positions but we strongly suggest putting tight stops for protection against sudden reversals,” Mr. Limlingan added, noting that a breach of the 6,700 level will indicate a selling trigger for a rally.
“With lack of market catalysts, some stocks might buck the trend as players set their eyes on follow-through of some of government’s pronouncements, particularly on heavily-regulated sectors. For now, investors should wait on the sidelines until clearer policies and regulations are released,” online brokerage 2TradeAsia.com said in its weekly outlook report.
The PSEi’s support level for the week is seen at around 6,450 to 6,500, and resistance at 6,650, 2TradeAsia.com said, well below its end-2015 close of 6,952.08
Yesterday, in Southeast Asia, Thai shares were headed for a second straight session of gains on robust November trade data showing customs-cleared exports jumped 10.20%, the highest percentage rise for a month since February.
Thailand’s benchmark stock index saw broad-based gains and was up 0.40% as of 0436 GMT, mainly led by industrial, consumer and financial stocks.
Vietnam shares added a paltry 0.36 points and were nearly flat as gains in financials and consumer cyclicals offset losses in consumer staples, the second-biggest sector on the index. — Janina C. Lim with Reuters
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/
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3. The YouTube Channel: https://www.youtube.com/theresponsibletrader – where you can learn the course “Master’s Certificate in Technical Analysis” which was simplified in an easily understood manner. You can download these videos and learn them at your own convenient time. (FREE)
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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