Top Ten Smart Money Moves – November 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 November 23, 2017 Data)
Total Traded Value – PhP 4.410 Billion – Low
Advances Declines – (Ideal is 2:1) 105 Advances vs. 92 Declines = 1.14:1 Neutral
Total Foreign Buying – PhP 1.858 Billion
Total Foreign Selling – (PhP 2.061) Billion
Net Foreign Buying (Selling) – (PhP 0.203) Billion – 3rd day of Net Foreign Selling after 2 days 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
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:
Stocks rebound as Senate approves tax package
November 24, 2017
THE Philippine Stock Exchange index (PSEi) recovered after two days of downward movement, taking cues from Wall Street and with the approval of the Senate of a higher personal income tax exemption for Filipinos of P250,000 annually.
The benchmark index closed at 8,343.23, up 77.55 points or 0.93%, while the all-shares index closed at 4,883.37, up by 36.99 points or 0.76%.
“[Investors] were elated with the higher personal income tax exemption for Filipinos of P250,000 annually, effectively increasing the take-home pay of taxpayers,” Jervin S. de Celis, equities trader at Timson Securities, Inc., said in a text message.
The Senate on Wednesday approved a higher personal income tax exemption of P250,000 annually, as it discussed amendments for its version of the tax reform bill, or the Senate Bill 1592 or the Tax Reform for Acceleration and Inclusion Act. The Senate and the House of Representatives will then meet in a bicameral conference, even as early as December in order for President Rodrigo R. Duterte to approve the package by yearend.
Luis A. Limlingan, managing director at Regina Capital Development Corp., said momentum in the local market remained positive despite the performance of Wall Street.
“US stocks took a breather, the Dow Jones Industrial Average -0.3% as investors took some profit ahead of Thanksgiving holiday. Despite a flat start on Wall St’s leads, however, momentum remained positive, hence local investors saw the dips as quick and shallow, and bought with the low trading volumes,” Mr. Limlingan said in a text message.
US stocks were little changed on Wednesday, with telecom services shares among the biggest movers while the energy sector rose in line with gains in crude oil.
Trading volumes were thin ahead of the Thanksgiving holiday on Thursday and an early close on Friday. About 5.18 billion shares changed hands in US exchanges, compared with the 6.66 billion daily average over the last 20 sessions. Last year, volume during the session before Thanksgiving was 6.51 billion.
The Dow Jones Industrial Average fell 64.65 points or 0.27% to 23,526.18, the S&P 500 lost 1.95 points or 0.08% to 2,597.08 and the Nasdaq Composite added 4.88 points, or 0.07% to 6,867.36.
Meanwhile, back home, all sectoral indices gained. Holding firms led the counters as it ended at 8,475.13, up 106.12 points or 1.26%. Services went up 15.77 points or 0.96% to 1,645.73; property rose 30.86 points or 0.8% to 3,886.29; mining and oil climbed 67.05 points or 0.55% to 12,114.32; financials inched up 9.26 points or 0.44% to 2,091.90; and industrials gained 33.14 points or 0.30% to close at 10,959.46.
Value turnover came in at P4.41 billion, dropping from the previous day’s P6.93 billion, with 2.48 billion shares changing hands.
Advancers outnumbered decliners 105 to 92, while 43 names remained unchanged.
Net foreign selling thinned to P202.98 million yesterday from Wednesday’s P269.15 million. — PPCM 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/. For those interested in the hard copy, please send email to: firstname.lastname@example.org Subject: The Responsible Trader – Hard Copy.
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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.
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.