Top Ten Smart Money Moves – October 27, 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 27, 2017 Data)
Total Traded Value – PhP 4.603 Billion – Low
Advances Declines – (Ideal is 2:1) 95 Declines vs. 95 Advances = 1.0:1 Perfectly Neutral
Total Foreign Buying – PhP 2.042 Billion
Total Foreign Selling – (PhP 2.574) Billion
Net Foreign Buying (Selling) – (PhP 0.532) 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
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 seen sideways as mart looks to earnings
October 30, 2017
THE LOCAL BOURSE is set to heed news from abroad and digest more corporate earnings results slated for release this week ahead of the holiday break.
The market took a breather last week as investors took gains after successively breaching record highs.
The Philippine Stock Exchange index closed at 8,295.95 on Friday, down 1.48% or 125 points week on week.
Declines were registered in several sectors such as financials, which went down 2.41%; holding firms, down 2.55%; and property, down 0.70%.
Meanwhile, mining and oil saw gains during the week, advancing 1.89%, after the Mining Industry Coordinating Council (MICC) lifted its ban on the open-pit extraction method.
Average turnover totaled P4.6 billion. Advancers tied with decliners at 95 to 95. Foreigners were sellers, ending the week with net selling at P532 million.
“Very little is expected with a three-day trading session this week, as investors take their cue from headlines from abroad,” said online brokerage firm 2TradeAsia.com in a statement, noting the two-day meeting of Federal Reserve members set to start on Oct. 31.
“Markets are likely to weigh in [US President Donald J.] Trump’s appointee with the expiration of current Fed chief [Janet L.] Yellen’s term. Pending the succession episode, the backdrop of a Fed red hike remains largely unchanged, as players make their best estimates on its timing,” the firm added.
Mr. Trump is leaning toward nominating Federal Reserve Governor Jerome Powell to be the next head of the US central bank, two sources familiar with the matter said on Friday.
Mr. Trump has said he has been considering Mr. Powell, as well as Stanford University economist John Taylor, for the post. He has also said he has not ruled out renominating current Fed chair, Ms. Yellen, whose term expires in February.
He is expected to announce his pick, which would need to win Senate approval, before he departs on a trip to Asia on Nov. 3.
Mr. Trump had been working from a short list of five candidates that included his top economic adviser, Gary Cohn, and former Fed Governor Kevin Warsh.
AB Capital Securities, Inc. Senior Research Analyst Lexter A. Azurin said investors are likely to take cues from third-quarter corporate earnings results.
“We’ve seen some companies start to report last week such as Meralco (Manila Electric Co.) and a couple of cement companies,” Mr. Azurin said in a text message over the weekend.
2TradeAsia.com noted that investors will be largely dependent on the earnings stream and listed firms’ dividend payout policy.
“Attention could shift in stocks fit for day-trades, specifically second- and third-tiers. Trade within range and avoid being trapped in shares with limited historical trading liquidity,” it added.
Immediate support is pegged at 8,200 points, while resistance is seen at 8,300 to 8,350 points. – J.C. Lim 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 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.