Top Ten Smart Money Moves – March 23, 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 23, 2017 Data)
Total Traded Value – PhP 5.584 Billion – Low
Advances Declines Ratio – (Ideal is 2:1) 94 Advances vs. 83 Declines = 1.13:1 Neutral
Total Foreign Buying – PhP 3.060 Billion
Total Foreign Selling – (PhP 3.446 Billion)
Net Foreign Buying (Selling) – (PhP 0.386 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:
PHL stocks rise on bargain hunting ahead of BSP
Posted on March 24, 2017
STOCKS saw an uptick on Thursday on bargain hunting and ahead of the Bangko Sentral ng Pilipinas’ (BSP) decision to keep monetary policy settings steady
The bellwether Philippine Stock Exchange index (PSEi) rose 0.63% or 46.10 points to 7,301.03.
The broader all shares index went up 0.40% or 17.64 points to 4,386.67.
“It looks like the market is positioning ahead of the BSP’s widely expected decision to keep rates steady for the meantime,” Manuel Antonio G. Lisbona, president of PNB Securities, Inc., said in a text message yesterday.
After the stock market closed, the central bank, at the conclusion of its policy review, announced it kept interest rates steady at 3% for its overnight reverse repurchase facility. The corresponding interest rates on the overnight lending and deposit facilities were also unchanged. It likewise left reserve requirement ratios untouched.
The BSP said its decision is based on its assessment that the outlook for inflation remains manageable, consistent with favorable growth prospects.
Mr. Lisbona said investors should be on the watch for global oil prices and its effect on local inflation for clues which may influence the Philippine central bank’s decision in its next policy meeting.
“Our market is also factoring that the BSP will maintain its rates when the decision comes out later today with some hints as to when it may actually raise later in the year if ever,” Luis A. Limlingan, managing director of Regina Capital Development Corp., said in a text message on Thursday.
Mr. Limlingan added that local companies recovered faster than regional markets even as US stocks “bounced” back from their worst loss in five months amid opportunistic but cautious bargain hunting.
Subindices ended mixed on Thursday. Holding firms went up 1.49% or 108.50 points to 7,377.76; services climbed 1.03% or 15.20 points to 1,490.61; and mining and oil rose 0.62% or 73.69 points to 11,945.70.
Meanwhile, property went down 0.32% or 10.43 points to 3,217.01; financials slid 0.11% or 2.12 points or 1,830.52; and industrial inched down 0.09% or 10 points to 10,962.52.
Advancers beat losers, 94 to 83, while 58 issues were unchanged.
Value turnover stood at P5.58 billion, lower than the previous day’s P7.73 billion, as 1.07 billion shares changed hands.
Net foreign selling declined to P386.06 million yesterday from Wednesday’s P958.84-million net outflow.
PNB’s Mr. Lisbona said the PSEi is still range-bound between 7,150 and 7,350.
Southeast Asian stock markets rose in line with Asian peers on Thursday, reversing the previous session’s losses on cues from Wall Street which ended mixed overnight with an upside bias.
The Nasdaq gained 0.48% and the S&P 500 closed 0.19% higher, while the Dow Jones Industrial Average was flat, after all three touched their lowest in about five weeks earlier in the session. — J.C. Lim with Reuters
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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