Top Ten Smart Money Moves – June 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 June 23, 2016 Data)
Total Traded Value – PhP 5.962 Billion – Low
Market Breadth and Sentiment indicated by Advances Declines Ratio – (Ideal is 2:1 to be considered Bullish or Bearish) 100 Declines vs. 100 Advances 1.0:1 Perfectly Neutral
Total Foreign Buying – PhP 3.078 Billion
Total Foreign Selling – (Php 2.532) Billion
Net Foreign Buying (Selling) Php 0.547 Billion – 6th 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 Software
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:
Posted on June 23, 2016 08:23:00 PM
By Keith Richard D. Mariano, Reporter
Stocks drop amid profit taking ahead of UK vote
STOCKS lingered in negative territory yesterday as investors continued to cash in gains and stay cautious ahead of the “Brexit” vote in the United Kingdom (UK).
The bellwether Philippine Stock Exchange index (PSEi) declined for the second consecutive session, losing another 26.59 points or 0.34% to settle at 7,729.78.
The broader all-shares index, meanwhile, closed at 4,598.44 after shedding 4.70 points or 0.10%.
“The market was down merely on profit-taking,” Aniceto K. Pangan, trader at Diversified Securities, Inc., said in a telephone interview.
“We have been up for days — we’re on overbought situation — so, the market decided to embark on profit-taking since [Wednesday] considering the fact that there’s the risk of UK leaving the European Union (EU),” Mr. Pangan added.
“It was a flat market. Obviously investors are still waiting as “Brexit” looms over. It’s tonight already so they opted to say on the sidelines pending the result,” First Grade Finance, Inc. Managing Director Astro C. del Castillo said in a separate interview on Thursday.
Value turnover dropped to P5.96 billion from the P7.66 billion recorded on Wednesday, after 2.34 billion shares exchanged hands.
Foreign investors, however, maintained a net buying position of P546.96 million, albeit down from Wednesday’s P1.13 billion.
“It reflects cautious trading… A number of investors didn’t decide to trade; most investors decided to go on profit taking as this ensued,” Diversified Securities’ Mr. Pangan said.
All counters posted losses, except for the mining and oil, which recovered 252.01 points or 2.37% to 10,866.71 after the appointment of anti-mining advocate Regina Paz L. Lopez to the Environment department dragged mining stocks for two sessions.
“Mining is already up. The [incoming presidential] spokesperson [Ernesto] Abella gave a press briefing giving the position of the new administration on how to deal with the mining issue,” Mr. Pangan said.
Services led the decline in Thursday’s session, losing 18.73 points or 1.14% to settle at 1,619.28.
The market likewise saw industrial stocks drop by 54.97 points or 0.46% to 11,853.57; property by 7.97 points or 0.23% to 3,363.99; holding firms by 11.79 points or 0.15% to 7,642.13; and financials by 0.75 point or 0.04% to 1,750.68.
Advancers and decliners were even, 100 to 100, while 47 stocks were unchanged.
“If the UK decides to remain in the EU, the local market will go on an uptrend. The incoming inauguration, the 10-point economic agenda [of President-elect Rodrigo R. Duterte], which was received well by the business community, [make] the outlook positive for the market,” Mr. Pangan said.
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
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