Top Ten Smart Money Moves – May 24, 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 May 24, 2017 Data)
Total Traded Value – PhP 5.897 Billion – Low
Advances Declines Ratio – (Ideal is 2:1) 97 Declines vs. 94 Advances = 1.03:1 Neutral
Total Foreign Buying – PhP 2.867 Billion
Total Foreign Selling – (PhP 2.415) Billion
Net Foreign Buying (Selling) – PhP 0.452 Billion –3rd day of Net Foreign Buying after 2 days of Net Foreign Selling
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:
PSEi rises after China’s credit rating downgrade
Posted on May 25, 2017
SHARES continued to climb yesterday despite the current unrest in the southern Philippines, as traders favored the Philippine market following Moody Investors Service’s downgrade of China’s credit rating.
The bellwether Philippine Stock Exchange index (PSEi) added 25.68 points or 0.32% to close at 7,837.82.
The all-shares index likewise increased by 9.33 points or 0.20% to end at 4,671.49.
“The sudden declaration of martial law in Mindanao did not spook investors, with the index closing in the green with sentiment buoyed by US stocks closing narrowly higher and the S&P 500 logging its first four-day winning streak since mid-February on the back of strength across the financials,” Luis A. Limlingan, managing director at Regina Capital Development Corp., said yesterday.
President Rodrigo R. Duterte on Tuesday night placed the entire island of Mindanao under martial law as security forces clashed in Marawi City, Lanao del Sur with suspected members of the so-called Maute terror group led by Isnilon Hapilon that has aligned itself with the Islamic State.
“Other investors [also] viewed the Philippines as much safer bet versus China’s downgrade,” Mr. Limlingan added. Moody’s downgraded Beijing’s long-term local and foreign currency issuer ratings, citing expectations that the financial strength of the world’s second-biggest economy would erode over the coming years.
Aniceto K. Pangan, equities trader at Diversified Securities, Inc., said in a phone interview that despite martial law “jitters,” local stocks still ended higher as China’s downgrade became “more advantageous” for the Philippine market.
“Market continued its positive direction as China’s downgrade meant the low interest rates and stimulus will persist — thus, more advantageous for emerging markets like us,” Mr. Pangan said.
Summit Securities, Inc. President Harry G. Liu said the martial law declaration did not temper positive sentiment of the market. “President Duterte has a high trust rating from the people. I think investors feel Duterte is in control,” he said.
Sectoral indices were mixed. Industrials rose 1.16% or 128.91 points to 11,221.47; property climbed 0.90% or 32.04 points to 3,578.85; and financials went up 0.21% or 4.08 points to 1,935.40.
In contrast, mining and oil went down 0.69% or 88.37 points to 12,621.99; services dropped 0.35% or 5.77 points to 1,614.51; and holding firms slipped 0.19% or 15.23 points to 7,939.94.
Value turnover dropped to P5.90 billion yesterday from Tuesday’s P7.41 billion, with 1.05 billion shares changing hands.
Foreign investors remained net buyers with P451.81 million, up from the previous session’s net purchases worth P146.71 million.
Decliners outpaced advancers, 97 to 94, while 45 names closed unchanged.
For today, Mr. Limlingan said “markets will be taking cues from the FOMC (Federal Open Market Committee) minutes.” — ICCD 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