Top Ten Smart Money Moves – November 23, 2016
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 November 23, 2016 Data)
Total Traded Value – PhP 6.671 Billion – Low
Advances Declines Ratio – (Ideal is 2:1) 110 Declines vs. 71 Advances = 1.55:1 Neutral
Total Foreign Buying – PhP 3.387 Billion
Total Foreign Selling – (PhP 4.462 Billion)
Net Foreign Buying (Selling) – (PhP 1.075) Billion – 4th 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:
Stocks rebound as investors hunt for bargains
Posted on November 24, 2016
THE MAIN INDEX bounced back yesterday as investors picked up bargains after days of decline amid mixed local and foreign drivers, though not enough to erase its losses for the year.
The bellwether Philippine Stock Exchange index (PSEi) recouped 33.91 points or 0.50% to end Wednesday’s trading at 6,836.64 after giving up 176.33 points or 2.53% to close at 6,802.73 on Tuesday.
However, the PSEi is still down from its end-2015 close of 6,952.08.
The broader all shares index also gained 10.94 points or 0.26% to end at 4,149.10.
Luis A. Limlingan, business development head at Regina Capital Development Corp., said the market saw a technical rebound yesterday after days of decline.
“The market traded negatively until the afternoon when we saw bargain hunting,” Mr. Limlingan said by phone.
Lexter A. Azurin, head of research at Unicapital Securities, Inc., said “markets were down on continued negative sentiment brought by both external and local concerns.”
“Locally, most companies reported weaker than expected results. Investors were also concerned about higher interest rates… and the Philippines will be more affected in the region once that happens. We’re also seeing continued foreign outflow,” Mr. Azurin added.
“Market was soft [yesterday]. Based on our local situation the peso continued to be weak, there’s also fear of an interest rate adjustment in the US, plus the drug-related hearings causing investors to stay on the sidelines, “Summit Securities, Inc. President Harry G. Liu said.
“It could, however, rally upward before the end of the month or next week as short-term remains oversold,” Mr. Liu added, noting that investors are expected to consider the country’s economic fundamentals.
Three of six counters swung back to positive territory after the previous session’s sell-off. The services sub-index gained the most, climbing 24.11 points or 1.87% to close at 1,311.28. Holding firms gained 104.08 points or 1.52% to 6,967.99, while mining and oil recouped 103.28 points or 0.86% to end at 12,144.34.
Meanwhile, financials led losers yesterday as it dropped 18.69 points or 1.11% to close at 1,669.40. Property also gave up 23.19 points or 0.77% to 2,985.78 and industrial declined 35.30 points or 0.32% to 10,998.79.
Value turnover slightly increased to P6.67 billion from the P6.96 billion recorded on Tuesday after 1.03 billion shares changed hands. Decliners outnumbered advancers, 71 to 110, while 38 issues were unchanged.
Foreign investors continued to dump shares, with net selling reaching P1.07 billion, up from Tuesday’s P862.21 million.
Regina Capital’s Mr. Limlingan said the sell-off may continue amid expectations of a rate hike by the Federal Reserve next month. Unicapital’s Mr. Azurin said trading may remain quiet in the next few days, with the PSEi likely to move within the 6,700-6,900 range. — Imee Charlee C. Delavin
We aim to continue promoting financial literacy on the area of stock market trading and investing to our countrymen both here and abroad through the following:
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/
2. The Website: :http://www.theresponsibletrader.com where we publish our daily newsletter Top Ten Smart Money Moves, Stock Trading Lessons, and Inspirational Materials. (FREE)
3. The YouTube Channel: https://www.youtube.com/theresponsibletrader – where you can learn the course “Master’s Certificate in Technical Analysis” which was simplified in an easily understood manner. You can download these videos and learn them at your own convenient time. (FREE)
4. My Slideshare: http://www.slideshare.net/TheResponsibleTrader – where you can view and download copy of the Powerpoint Presentation of my TRT-POV (The Responsible Trader’s Point of View) of the videos posted in our Youtube Channel. (FREE)
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 P8 Billion b. Medium – Total Traded Value P8 Billion but not more than P15 Billion c. High – Total Traded Value more than P15 Billion