Top Ten Smart Money Moves – March 2, 2018
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 2, 2018 Data)
Total Traded Value – PhP 7.246 Billion – Low
Advances Declines – (Ideal is 2:1) 141 Declines vs. 74 Advances = 1.91:1 Neutral
Total Foreign Buying PhP 2.689 Billion
Total Foreign Selling – (PhP 3.309) Billion
Net Foreign Buying (Selling) – (PhP 0.620 Billion) – 9th 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:
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Stocks to decline ahead of local inflation data
March 4, 2018 | 7:36 pm
By Arra B. Francia, Reporter
LOCAL SHARES may edge lower this week as fears on how inflation would impact the market push investors to the sidelines.
The bellwether Philippine Stock Exchange index dipped 0.08% or 7.20 points to 8,458.57 last Friday. The industrial and financial sectors lifted the market, rising 3.3% and 1.8% week on week respectively, but was weighed down by a 2.7% decline in the mining and oil sub-index.
On a weekly basis, this is 0.11% lower than the market’s close of 8,467.56 previously. Trading for the week was also thinner as value turnover averaged at P8.8 billion, lower by 5%.
Foreign investors, meanwhile, remained in a net selling position, with net outflows recorded at P3.92 billion.
“Investors are still worried about the constant net-foreign outflow and what the effects of higher inflation are going to be on our market,” Eagle Equities, Inc. Research Head Christopher John Mangun said in a report.
The Bangko Sentral ng Pilipinas (BSP) last week placed February’s inflation projection between 4-4.8%, the higher end of which is way above the government’s 2-4% target for the year. Last January, inflation posted a 4% increase, mainly due to the accelerated increase in the prices of food, non-alcoholic and alcoholic beverages, and tobacco.
The Department of Finance added that the Tax Reform for Acceleration and Inclusion Law — enacted last Jan. 1 — did not accelerate inflation for the month, save for the case of sugar-sweetened beverages.
“It may continue to trade lower as it is looking for strong support which it may find at the 8,100-8,150 level before it starts to recover,” Mr. Mangun said.
Online brokerage firm 2TradeAsia.com, meanwhile, said that rising inflation is a natural course for the country’s booming economy.
“Simply put, as economic growth accelerates, expect (inflation) to rise. As long as this growth is paralleled by improved employment, there should be no cause for alarm. Our monetary officials are also there to ensure no unreasonable occurrences disrupt the system’s fund flow, that could trigger runaway inflation,” 2TradeAsia.com said in a weekly market note.
With this, the company said it would be up to investors to look for higher returns.
A number of listed firms will be releasing their full-year 2017 results this week, including Global Ferronickel Holdings, Inc., D&L Industries, Inc., International Container Terminal Services, Inc., Del Monte Pacific Limited, PLDT, Inc., and Aboitiz Equity Ventures, Inc.
Eagle Equities’ Mr. Mangun, meanwhile, also noted the BSP’s move to lower the reserve ratio requirement for big banks that will see P50-P100 billion make its way into the economy, some of which may eventually end up in the stock market.
The analyst said the main index’s support could be from 8,420 to as low as 8,330, while it may test a resistance of 8,600 to 8,700.
Source: http://bworldonline.com/stocks-decline-ahead-local-inflation-data/
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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/. For those interested in the hard copy, please send email to: ninjatrader919@gmail.com Subject: The Responsible Trader – Hard Copy.
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Good luck on all your TRADES today.
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.