Top Ten Smart Money Moves – June 28, 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 June 28, 2017 Data)
Total Traded Value – PhP 6.643 Billion – Low
Advances Declines Ratio – (Ideal is 2:1) 104 Declines vs. 88 Advances = 1.18:1 Neutral
Total Foreign Buying – PhP 3.508 Billion
Total Foreign Selling – (PhP 3.707) Billion
Net Foreign Buying (Selling) – (PhP 0.199) Billion – 3rd 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:
Shares reverse Tuesday’s gains on lack of catalysts
Posted on June 29, 2017
THE Philippine Stock Exchange index (PSEi) on Wednesday failed to extend the previous day’s gains, easing by 19.19 points or 0.24% to finish at 7,857.18 as shares continued consolidation in the absence of any market-moving news, analysts said.
“The market continues to consolidate…” said Miguel A. Agarao, vice-president of Philequity Management, Inc.
“We should be wary of [the peso’s] weakness as this may dampen sentiment for stocks,” he added, as the peso weakened 0.4% from the preceding day and 1.57% from end 2016 to finish P50.50 to the dollar yesterday.
The broader all-shares index dropped 7.27 points or 0.15% to 4,697.20.
Luis A. Limlingan, business development head at Regina Capital Development Corp., said the market fell below Tuesday’s finish as it tracked Wall Street’s decline under the weight of technology stocks and a reversal of oil prices’ recent gains.
But Mr. Limlingan said equities should not “swing too much on a lack of strong catalysts.”
Harry G. Liu, president of Summit Securities, Inc., said he expects the market to be “a bit soft” technically in the short to medium term.
“Watch for the long-term support at 7,700/7,880,” he said, adding that he expects PSEi’s resistance at 8,030-8,300.
“A break above or below the support or resistance range can trigger a move on our market,” he said, adding that the market has been waiting for a “good news catalyst” to fuel its up.
At the same time, Mr. Liu said: “We have been consolidating on the medium term for quite some time, so a move should be coming.”
He said investors should watch the situation in Marawi City, which is now on its fifth week as government forces move door to door to flush out extremists aligned with the Islamic State, movement in the country’s credit rating, the exchange rate between the peso and US dollar, fate of tax reforms that are crucial to helping fund the government’s P8-trillion infrastructure build, as well as developments overseas.
“The market is a confidence barometer — a summary of our economic and political outlook,” he said.
Yesterday saw four of the six sector indices retreat, led by property stocks which slipped by 25.41 points or 0.69% to finish at 3,639.83. Financials dropped by 7.11 points or 0.36% to 1,936.56, industrial stocks went down by 38.83 points or 0.35% to 10,980.96, while services slipped by 0.94 points or 0.05% to 1,732.37.
Holding firms gained 11.74 points or 0.15% to 7,827.16, while mining and oil rose 65.23 points or 0.51% to end at 12,651.68.
Value turnover dropped 27.55% to P6.64 billion from Tuesday’s P9.17 billion. Losers outnumbered gainers 104 to 88, while 50 stocks closed unchanged.
Foreign funds remained net sellers, although the day’s P198.74 million was less than a third of Tuesday’s P718.52 million. — Victor V. Saulon
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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