Top Ten Smart Money Moves – October 13, 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 October 13, 2017 Data)
Total Traded Value – PhP 9.557 Billion – Medium
Advances Declines – (Ideal is 2:1) 106 Declines vs. 91 Advances = 1.16:1 Neutral
Total Foreign Buying – PhP 5.540 Billion
Total Foreign Selling – (PhP 4.889) Billion
Net Foreign Buying (Selling) – PhP 0.651 Billion –2nd day of Net Foreign Buying after a day 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
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:
Equities seen ripe for consolidation after 8,500
October 17, 2017
LOCAL STOCKS may find fresh impetus for a lunge at the 8,500 mark this week following the death of two terrorist leaders that could spell the end of the more-than-four-month siege of Marawi City, before consolidating for some time, according to one analyst yesterday.
Trading was suspended on Monday due to a transport strike that nevertheless failed to paralyze Metro Manila and other major urban centers, as intended, since other major jeepney organizations stayed away.
“There has been a development in the Marawi and that will be a positive in tomorrow’s news,” Summit Securities, Inc. President Harry G. Liu said in a telephone interview on Monday (Read story on S1/9).
“I think the 8,500 is easily breached then,” Mr. Liu added.
“From there, hopefully, there is consolidation in the medium-term so that we can go higher levels strongly.”
Defense Secretary Delfin N. Lorenzana yesterday announced that government forces had finally killed Isnilon Hapilon, self-styled leader of the Islamic State in Southeast Asia, and Omarkhayam Maute, one of two brothers who allied with Mr. Hapilon to take over Marawi City last May 23, according to Reuters. The US had offered a $5-million bounty for information leading to Mr. Hapilon’s arrest, describing the 51-year-old as a leader of the Abu Sayyaf group, which the US considers a “foreign terrorist organization.”
“The Marawi incident is almost over and we may announce the termination of hostilities in a couple of days,” Reuters quoted Mr. Lorenzana as saying.
The Marawi crisis has been cited by credit raters and other analysts as a cause for concern in terms of the country’s attractiveness to investments, even though solid macroeconomic fundamentals should hold sway in seasoned investors’ minds.
The Philippine Stock Exchange, Inc. (PSEi) has been closing at successive new record highs since September, the last one recorded on Friday last week, when PSEi ended at 8,447.94, up by 23.5% year to date. Drivers have been mixed, as persistent optimism over looming enactment of the first of up to five tax reforms that will help finance an ambitious infrastructure build added to impetus provided by bourses elsewhere.
Sought also for comment, Regina Capital Development Corp. Managing Director Luis A. Limlingan, recalled that “[w]e had two consecutive years when the index fell flat.”
“I guess now we’re just making up for those two weak years.”
Many Asian bourses ended strongly yesterday, including the Nikkei 225, Hong Kong’s Hang Seng Index, South Korea’s KOSPI and the Jakarta Composite index closing 0.47%, 0.76%, 0.26% and 0.43% higher, respectively, although the Shanghai Composite Index slid 0.35%.
Mr. Liu said he sees support level this week at 8,400 and resistance at 8,500-8,550. PSEi is “still on an upward” trend, he said, adding that “fundamentals should just continue to be positive and we will see higher ground.” — JCL
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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.