Top Ten Smart Money Moves – March 16, 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 March 16, 2017 Data)
Total Traded Value – PhP 6.143 Billion – Low
Advances Declines Ratio – (Ideal is 2:1) 102 Declines vs. 76 Advances = 1.34:1 Neutral
Total Foreign Buying – PhP 3.464 Billion
Total Foreign Selling – (PhP 3.582 Billion)
Net Foreign Buying (Selling) – (PhP 0.118 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
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:
Stocks climb on bargain hunting after Fed hike
Posted on March 17, 2017
THE STOCK MARKET went up slightly after the much-anticipated rate hike by the US Federal Reserve the other night.
The 30-member Philippine Stock Exchange index (PSEi) rose by 24.81 points or 0.34% to close at 7,278.60 yesterday. The broader all shares index closed at 4,386.08, up by 12.26 points or 0.28%.
Advancers outpaced decliners, 102 to 76, while 47 stocks were unchanged.
A total of 2.01 billion shares valued at P6.14 billion exchanged hands, lower than Wednesday’s P8.27 billion worth.
Except for the mining and oil counter, which gave up 0.56% or 68.23 points to close at 11,928.69, all other sub-indices were in positive territory.
The interest-rate sensitive property and financial sub-indices were among the gainers, up 0.44% and 0.38% to 3,244.68 and 1,827.99, respectively.
Among property companies, SM Prime Holdings, Inc. was up 0.35%, while Ayala Land, Inc. gained 0.56%.
BDO Unibank, Inc. and Metropolitan Bank & Trust Co. were among the most actively-traded in the financials sub-index, with gains of 0.66% and 0.90%, respectively.
Meanwhile, industrials gained 50.44 points or 0.45%, while the holding firms and services counters were up 32.58 points or 0.44%, and 3.29 points or 0.22%, respectively.
“The market returned to normal bargain hunting as the [Federal Open Market Committee] raised the funds rate target range, as widely expected,” said Regina Capital Development Corp. Head of Sales Luis A. Limlingan.
“The post-meeting statement made only minor changes to the description of the economy and continued to describe risks to the outlook as ‘roughly balanced,’” Mr. Limlingan said in an e-mail.
The Fed raised interest rates by 25 basis points after its two-day policy meeting for March, with the US’ steady economic growth expected to prompt two more rate hikes this year and three in 2018.
RCBC Securities, Inc. analyst Anton G. Alfonso said the Fed hike’s effect on trading was not significant as increase was already expected.
“This was expected already, so the market was supported by gains in Wall Street last night,” Mr. Alfonso said in a telephone interview.
All three main US counters were up overnight.
“The upward trend will be dependent on the outcome of additional data later such as the initial and continuing jobless claims and the Fed manufacturing index coming out tonight,” Mr. Limlingan said on Thursday.
RCBC’s Mr. Alfonso added that they expect the PSEi’s resistance to be at 7,340 in the coming days.
Other Southeast Asian stocks rose on Thursday, tracking an overnight rally in global shares after Fed Chair Janet L. Yellen’s comments suggested a more gradual pace of monetary tightening this year than many had expected. — Arra B. Francia with Reuters
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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/.
As requested by those abroad and those who want the book in digital form, we have produced an eBook version. For those interested please send email to: email@example.com Subject: The Responsible Trader – eBook Version.
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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