Top Ten Smart Money Moves – November 28, 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 28, 2016 Data)
Total Traded Value – PhP 5.865 Billion – Low
Advances Declines Ratio – (Ideal is 2:1) 111 Declines vs. 74 Advances = 1.50:1 Neutral
Total Foreign Buying – PhP 3.152 Billion
Total Foreign Selling – (PhP 3.415 Billion)
Net Foreign Buying (Selling) – (PhP 0.263) Billion – 7th 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:
PSEi declines anew on jitters ahead of Fed, OPEC
Posted on November 29, 2016
LOCAL SHARES resumed their slide yesterday as investors continued to dump stocks amid persisting uncertainties due to a change in government in the US under president-elect Donald Trump and rate hike plans by the Federal Reserve.
After ending three consecutive days in the green last week, the Philippine Stock Exchange index (PSEi) fell 64.38 points or 0.93% to end Monday’s session at 6,825.40.
The broader all-shares index also declined by 29.62 points or 29.62% to close at 4,146.92.
Diversified Securities, Inc. equities trader Aniceto K. Pangan said continued uncertainty in the US affected market sentiment, with investors preferring safe havens over emerging economies.
“Market was down I think mainly because of the interest rate hike in the US next month and also the protectionist stand of the new Trump government,” Mr. Pangan said via phone yesterday.
“Until we could find any leads on his policies, these two uncertainties will continue to affect sentiment.”
Luis A. Limlingan, business development head at Regina Capital Development Corp., said aside from the rate increase in the world’s largest economy expected by next month, the market is also waiting for the result of the Organization of the Petroleum Exporting Countries’ (OPEC) Nov. 30 meeting.
“I think it’s the same things that investors are worried about. Rate hike and the incoming Trump administration so they’re still selling down,” Mr. Limlingan said. “Investors are shifting to the US, the peso is also depreciating.”
A dip in oil prices on Monday on fears that producer countries may fail to agree an output cut at their meeting on Wednesday kept other Southeast Asian markets subdued.
Most sub-indices closed in the red, except services which gained 10.86 points or 0.83% to end at 1,306.98.
Holding firms led the bloodbath, declining 97.97 points or 1.39% to end at 6,927.79. Industrial followed as it fell 110.35 points or 1% to close at 10,897.77. Property slid 22.77 points or 0.74% to 3,050.21; financials dropped 11.99 points or 0.71% to 1,660.09; while mining and oil also went down by 54.06 points or 0.44% to close at 12,176.48.
Foreigners continued selling their shares on Monday, as net outflows grew to P262.5 million from the net P217.35 million recorded last Friday.
Decliners beat advancers, 111 to 74, while 37 issues were unchanged. Value turnover rose to P5.86 billion as over one billion shares changed hands, from the previous session’s P4.84 billion.
For today, analysts said foreign selling may persist amid continued market jitters due to uncertainties abroad.
“The consolidation phase will continue until global uncertainties subside,” Diversified Securities’ Mr. Pangan said, noting that the PSEi could test the 6,722 support and the 6,900 resistance.
“If we cannot remain in the 6,850, if we can climb back then we might fall 6,650 for the rest of the week,” Regina Capital’s Mr. Limlingan added. — Imee Charlee C. Delavin 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 P8 Billion b. Medium – Total Traded Value P8 Billion but not more than P15 Billion c. High – Total Traded Value more than P15 Billion