Top Ten Smart Money Moves – October 17, 2018
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.
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Total Traded Value – PhP 5.740 Billion – Low
Advances Declines – (Ideal is 2:1) 129 Advances vs. 57 Declines = 2.26:1 Bullish
Total Foreign Buying PhP 2.783 Billion
Total Foreign Selling – (PhP 3.4126) Billion
Net Foreign Buying (Selling) – (PhP 0.633) Billion – 35th day of Net Foreign Selling after 2 days of Net Foreign Buying
Data from the Philippine Stock Exchange
Screenshot courtesy of 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:
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Stocks extend climb on Wall St., bargain hunting
October 17, 2018 | 9:00 pm
LOCAL SHARES continued their recovery on Wednesday, tracking the upswing seen in international markets, complemented by bargain hunting of oversold stocks.
The bellwether Philippine Stock Exchange index (PSEi) jumped 1.61% or 112.66 points to 7,099.68 yesterday, propelling the main index back to the 7,000 level. The broader all-shares index likewise climbed 1.22% or 52.57 points to 4,342.28.
“I think the index was also tracking the global stocks performance driven by optimism of strong corporate earnings,” IB Gimenez Securities, Inc. Research Head Joylin F. Telagen said in a text message.
Wall Street indices soared overnight, with the Dow Jones Industrial Average rising 2.17% or 547.87 points to 25,798.42. The S&P 500 index edged higher by 2.15% or 59.13 points to 2,809.92, while the Nasdaq Composite index rallied 2.89% or 214.75 points to 7,645.49.
Analysts attributed the rise of global stocks from the solid earnings reports of companies like Goldman Sachs and Morgan Stanley, as well as an uptick in tech shares.
Most Asian indices also went up, lifted by Wall Street’s strong performance.
“Aside from that, some investors bought back selected oversold stocks ahead of the third- quarter earnings results,” IB Gimenez Securities’ Ms. Telagen added.
Eagle Equities, Inc. President Joseph Y. Roxas noted the same, saying in a separate text that investors felt “maybe the worst is over for inflation that the selling has been overdone.”
The main index closed to as low as 6,884.38 in the previous week, as investors turned a cautious eye on the slower-than-expected growth of the Philippine economy, in addition to rising tensions in the trade war between the United States and China.
Overall sentiment was also down due to tensions between the US and Saudi Arabia amid the disappearance of Saudi journalist Jamal Khashoggi, which some analysts anticipated could affect oil prices.
At home, all sectoral indices climbed back to positive territory. Mining and oil soared 2.74% or 243.56 points to 9,131.61, followed by financials which surged 2.72% or 42.51 points to 1,601.21. Industrials gained 2.69% or 284.42 points to 10,831.73; property firmed up 1.39% or 48.95 points to 3,547.86; holding firms rose 0.86% or 58.23 points to 6,800.57; and services went up 0.46% or 6.85 points to 1,484.56.
Some 527.59 million issues valued at P5.74 billion switched hands, rising from Tuesday’s P4.75-billion turnover.
Advancers were more than double the decliners, 129 to 57, while 46 names closed unchanged.
Net foreign outflows also more than doubled on Wednesday, swelling to P633.66 million from the P223.54 million posted in the previous session.
Papa Securities Corp. trader Gabriel Jose F. Perez placed the PSEi’s initial resistance from 7,130 to 7,140. — Arra B. Francia
Source: https://www.bworldonline.com/stocks-extend-climb-on-wall-st-bargain-hunting/
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In line with our VISION, A RESPONSIBLE IN EVERY FILIPINOS HOME, 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/. For those interested in the hard copy, please send email to: ninjatrader919@gmail.com Subject: The Responsible Trader – Hard Copy.
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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)
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Good luck on all your TRADES today.
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.