Top Ten Smart Money Moves – May 17, 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 May 17, 2018 Data)
Total Traded Value – PhP 7.164 Billion – Low
Advances Declines – (Ideal is 2:1) 121 Declines vs. 69 Advances = 1.75:1 Neutral
Total Foreign Buying PhP 3.348 Billion
Total Foreign Selling – (PhP 4.669) Billion
Net Foreign Buying (Selling) (PhP 1.321) Billion – 2nd day of Net Foreign Selling after 2 days of Net Foreign Buying
Data from the Philippine Stock Exchange
Screenshot courtesy of 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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PSEi declines to 7,600 level on higher US yields
May 17, 2018 | 9:00 pm
THE MAIN INDEX fell back to the 7,600 level on Thursday as investors moved out of equities in favor of higher Treasury yields.
The bellwether Philippine Stock Exchange index (PSEi) plunged 2.22% or 175.44 points to close at 7,694.12.
The broader all-shares index likewise gave up 1.60% or 76.06 points to 4,678.74.
Eagle Equities, Inc. President Joseph Y. Roxas said the “weak peso and falling remittances” affected the market yesterday.
Cash remitted by overseas Filipino workers (OFW) dropped by 9.8% to $2.36 billion in March, the steepest fall seen since a 10.9% drop in April 2003.
This came after the repatriation of OFWs in Kuwait and the subsequent employment ban there, the central bank said, following the discovery of OFW Joanna D. Demafelis’ body stuffed in a freezer in an abandoned apartment last February.
Meanwhile, Regina Capital Development Corp. President Marita A. Limlingan blamed rising Treasury yields for the index’s performance.
“Foreign funds seem to lighten because treasury yields are more attractive. The 25-basis point [hike] by BSP (Bangko Sentral ng Pilipinas) did not strengthen peso and we think inflation will go higher. A peso with weakening prospects will be less attractive to investors who measure returns in dollars,” Ms. Limlingan said via text.
Net foreign outflows swelled to P1.32 billion on Thursday versus the P479.85 million recorded in the previous session.
Other analysts, meanwhile, noted that the index was due to come down given that recent drivers were non-fundamental factors.
“Since recent up-moves were largely driven by non-fundamental factors like the MSCI rebalancing, today’s close down was likely due to profit taking,” China Bank Securities Corp. Research Director Garie G. Ouano said in a separate message.
All sectoral indices ended in negative territory, with property leading the decline, closing at 3,782.79, 3.10% or 121.09 points lower. Holding firms shed 2.45% or 190.94 points to 7,585.82, while financials dropped 1.34% or 26.15 points to 1,916.80.
Services moved down 1.11% or 17.30 points to 1,532.66; industrials dropped 1.08% or 119.99 points to 10,991.67; while mining and oil decreased by 0.44% or 45.53 points to 10,208.95.
A total of 1.32 billion issues switched hands for a value turnover of P7.16 billion, up from Wednesday’s P6.38 billion. Decliners outnumbered advancers, 121 to 69, while 62 stocks ended flat.
Overseas, markets in the US were mostly in positive territory led by retail stocks. The Dow Jones Industrial Average added 0.25% or 62.52 points to 24,768.93. The S&P 500 index jumped 0.41% or 11.01 points to 2,722.46, while the Nasdaq Composite index gained 0.63% or 46.67 points to 7,398.29.
Asian stocks ended mixed as investors focused on renewed tensions between North Korea and the US. — Arra B. Francia
Source: bworldonline.com/psei-declines-to-7600-level-on-higher-us-yields/
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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.