Top Ten Smart Money Moves – March 29, 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 29, 2017 Data)
Total Traded Value – PhP 14.286 Billion – Medium
Advances Declines Ratio – (Ideal is 2:1) 107 Declines vs. 79 Advances = 1.35:1 Neutral
Total Foreign Buying – PhP 4.826 Billion
Total Foreign Selling – (PhP 10.824 Billion)
Net Foreign Buying (Selling) – (PhP 5.998 Billion) – first day of Net Foreign Selling after a day o 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:
Local shares end flat amid lack of strong leads
Posted on March 30, 2017
THE MAIN INDEX traded flat on Wednesday, failing to follow the rebound of US markets due to strong data coupled with an affirmation of two more Federal Reserve rate hikes this year.
The bellwether Philippine Stock Exchange index (PSEi) fell 0.10% or 7.46 points to 7,324. The broader all-shares index dropped 0.15% or 6.91 points to 4,404.30.
“Philippine stocks failed to match US stocks rebounding from their recent lull to close comfortably higher on the back of a blowout reading on consumer sentiment (the best since December 2000), the fastest housing price growth since mid-2014, a comment from Fed Chair Stan Fischer, rallying crude prices and a new all-time high for Apple,” said Luis A. Limlingan, managing director at Regina Capital Development Corp. in a text message.
US stocks ended sharply higher on Tuesday, with financial and energy shares surging as data showed US consumer confidence soaring to a more than 16-year high.
The S&P 500’s best day in nearly two weeks came after a record-setting rally for stocks in the wake of President Donald J. Trump’s election in November had stalled this month. The Dow Jones Industrial Average snapped an eight-day losing streak, which had been its longest run of losses since 2011.
US consumer confidence surged to a more than 16-year high in March amid growing labor market optimism, while the trade deficit in goods narrowed sharply in February. The economy’s strengthening fundamentals were bolstered by other data showing further increases in house prices in January.
The Dow Jones Industrial Average rose 150.52 points or 0.73% to 20,701.5, the S&P 500 gained 16.98 points or 0.73% to 2,358.57 and the Nasdaq Composite added 34.77 points or 0.60% to 5,875.14.
Mr. Limlingan added that US Treasuries reversed early gains to trade flat following the release of the strongest consumer sentiment print since 2000 which sapped demand for debt.
“The selling accelerated after Federal Reserve Vice Chairman Stan Fischer re-affirmed the central bank’s forecast for two more rate increases in 2017,” Mr. Limlingan added.
The Fed official said the US central bank’s consensus estimate for two more rate hikes this year “seems about right.”
Manuel Antonio G. Lisbona, PNB Securities, Inc. president, noted that even as the PSEi ended flat on Wednesday, it remained within the 7,150-7,350 trading range. “The market pierced resistance intraday but failed to sustain the breach. Most likely the market will again move towards support at 7,150 in the next few sessions.”
Subsectors closed mixed on Wednesday. Financials declined 0.60% or 11.02 points to 1,824.44; mining and oil slid 0.46% or 55.32 points to 11,962.85; industrials went down 0.30% or 33.06 points to 10,843.56; and property inched down 0.18% or 5.73 points to 3,170.29.
Meanwhile, holding firms climbed 0.33% or 24.90 points to 7,493.76 and services went up 0.19% or 3.01 points to 1,530.18. — J.C. Lim 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