Top Ten Smart Money Moves – Mar. 29, 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 Mar. 29, 2016 Data)
Total Traded Value – PhP 5.520 Billion – Low
Market Breadth and Sentiment indicated by Advances Declines Ratio – (Ideal is 2:1 to be considered Bullish or Bearish) 115 Advances vs. 97 Declines = 1.19:1 Neutral
Total Foreign Buying – PhP 2.747 Billion
Total Foreign Selling – (Php 3.147) Billion
Net Foreign Buying (Selling) – (Php 0.400 Billion) – 2nd 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 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 March 29, 2016 08:01:00 PM
By Krista A. M. Montealegre, Senior Reporter
PSEi continues retreat ahead of Yellen speech
STOCKS RETREATED for the second session in a row as caution prevailed ahead of Federal Reserve Chairperson Janet Yellen’s speech that may provide some clarity on the outlook for US interest rates this year.
The bellwether Philippine Stock Exchange index (PSEi) dropped 60.12 points or 0.82% to close at 7,274.40, near the session’s low.
The broader all-shares index declined 15.73 points or 0.37% to 4,202.10.
“Investors were risk off before Janet Yellen’s speech tonight, as they await for hints on whether the Fed will hike interest rates in the next policy meeting next month,” Joylin F. Telagen, equity analyst at IB Gimenez Securities, said in a mobile phone message.
Ms. Yellen is scheduled to deliver a speech before the Economic Club of New York at a time when investors are guessing the direction of interest rates after some Fed officials issued hawkish comments that contradicted the Fed chair’s dovish statement early this month.
“Expectations that Monday’s economic data from the US will support optimism were unmet after it showed consumer spending was soft, leading first-quarter gross domestic product estimates to be adjusted lower,” Justino B. Calaycay, Jr., head of marketing and research at A&A Securities, Inc., said in a client note.
Consumer spending in the US, which make up two-thirds of economic activity, edged up by only 0.1% in February and the January figure was revised down to 0.1% from the 0.5% growth previously reported.
The weak US consumer spending data fanned expectations that the Fed may delay raising borrowing costs over the coming months.
Holding firms fell 81.88 points or 1.13% to 7,135.07; financials slid 12.46 points or 0.76% to 1,616.04; property shed 21.43 points or 0.72% to 2,948.04; and industrial slipped 15.07 points or 0.12% to 11,739.92.
Defying the downtrend were mining and oil, which shot up 105.92 points or 0.96% to 11,138.37, and services, which added 1.45 points or 0.09% to 1,548.29.
Value turnover remained below the average, but improved to P5.52 billion after 1.02 billion shares changed hands, from Monday’s P5.11 billion.
Market breadth was positive, as gainers dominated losers, 115 to 97, while 29 issues ended flat.
Net foreign selling accelerated to P399.72 million yesterday from P299.62 million in the prior session.
Despite the recovery, backdrop that led to the markets’ worst start in years has remained largely the same, Mr. Calaycay said.
“The uncertainties over the efficacy of central banks’ dovish stance, the Fed’s eventual rate decision, the Chinese, Japanese and European economies, oil and commodity prices and lately, the addition of terrorism will continue to hang like Damocles’ sword above the collective heads of market investors,” he 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