Top Ten Smart Money Moves – December 8, 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 8, 2017 Data)
Total Traded Value – PhP 6.703 Billion – Low
Advances Declines – (Ideal is 2:1) 121 Advances vs. 66 Declines = 1.83:1 Neutral
Total Foreign Buying – PhP 3.561 Billion
Total Foreign Selling – (PhP 3.598) Billion
Net Foreign Buying (Selling) – (PhP 0.037) Billion –6th 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
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:
Stocks to take cues from BSP, Fed policy meetings
December 11, 2017
STOCKS will move depending on the results of the Bangko Sentral ng Pilipinas (BSP)’ policy meeting this week, alongside announcements from the US Federal Reserve at its own review.
The 30-member Philippine Stock Exchange index ended last week on a positive note as it climbed 1.59% or 129.77 points to finish at 8,304.70.
Week on week, the benchmark index was up 2%.
All sectoral indices posted upticks last Friday, led by the industrials counter which added 3.5%, followed by holding firms which saw a 1.8% increase. Overall, advancers narrowly outpaced losers, 96 to 94.
“Before investors take on their Christmas break, key announcements from US Federal Open Market Committee (FOMC) and BSP’s policy meeting are among items slated this week,” according to a weekly market note by online stock brokerage 2TradeAsia.com.
The FOMC is expected to implement a 25-basis point rate hike at its two-day meeting set on Dec. 12-13. The Fed will also release economic projections, including US inflation figures.
Meanwhile, analysts said the Philippine central bank will likely hold on to current policy settings this week as inflation and liquidity conditions remain manageable, despite “building” pressure due to the expected Fed rate hike.
Twelve economists tapped in a BusinessWorld poll late last week said the BSP Monetary Board will keep its policy stance unchanged at Thursday’s review, which follows the rate-setting meeting of the Fed.
Rates currently stand at 3.5% for the overnight lending rate, 3% for the overnight reverse repurchase rate, and 2.5% for the overnight deposit rate.
Analysts said current policy settings remain appropriate, with the growth momentum seen intact and with inflation easing from a three-year peak.
Commodity prices picked up by 3.3% in November, slowing from the 3.5% logged a month ago. This put the year-to-date average at 3.2%, matching the BSP’s forecast for the year.
Summit Securities, Inc. President Harry G. Liu said he sees no negative factors that may affect the market until yearend.
“If you look at it overall, so far we’re trailing 8,100 to 8,350 — that’s the window that we’re moving in. So far, I don’t see anything on site to be bearish on our market to yearend,” Mr. Liu said in a phone interview last week.
2TradeAsia.com also expects investors to take cues from listed firms’ announcements of their capital spending plans in 2018, which it noted should be balanced with benefits from the tax reform program and the awarding of infrastructure projects.
“Addressing the funding side is also crucial, and international players will also assess the administration’s ability to support tariffs to allow capital-intensive investors to recover investments and fulfill their mandates to shareholders,” the brokerage said.
2TradeAsia.com noted the market will be trading with an immediate support level of 8,250, with resistance ranging from 8,400 to 8,450. — Arra B. Francia
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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.