Top Ten Smart Money Moves – September 22, 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 September 22, 2017 Data)
Total Traded Value – PhP 6.153 Billion – Low
Advances Declines – (Ideal is 2:1) 109 Declines vs. 47 Advances = 2.32:1 Bearish
Total Foreign Buying – PhP 2.822 Billion
Total Foreign Selling – (PhP 2.500) Billion
Net Foreign Buying (Selling) – PhP 0.322 Billion – 3rd 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:
PSEi seen firm enough to stay above 8,200
September 25, 2017
THE Philippine Stock Exchange index (PSEi) is expected to stand on firm ground above the 8,200 mark this week on a generally stable global interest rate environment and optimism over prospects for tax reform.
“We see the PSEi firming-up above 8,200, as excess liquidity finds its way into equities,” said 2tradeasia.com, the online arm of F. Yap Securities, Inc. “Reverting to our 8,500 target outlook at the start of the year, major inflection point is highly considered, if the latest uptrend is sustained.”
It expects immediate support at 8,200 and resistance at 8,350-8,370.
Last week’s final two sessions saw PSEi breaching the 8,300 mark amid trading before retreating to close below the most recent record-high 8,294.14 finish on Sept. 18.
Harry G. Liu, president of Summit Securities, Inc., said positive developments could easily propel the main index to reach 8,300-8,400.
“I don’t see any long-term crisis that is being anticipated,” Mr. Liu said, adding that “only little problems” could get in the way “but I don’t think it’s something to worry about.”
Still, 2tradeasia.com has not discounted what it called a “wild card” in the coming days, citing new developments in the continuing geopolitical tension between the US and North Korea.
It cited Pyongyang’s threat to test on an “unprecedented scale” a hydrogen bomb in the Pacific Ocean.
The US has called for fresh economic sanctions against North Korea, targeting its financial and trade transactions.
Overall, worsening geopolitcal tensions could induce appetite in mining- and oil-related stocks, as some players flock to assets otherwise deemed risky.
This week’s expectations come immediately after shares soared to new highs and breach past 8,321.
In part, the rise was fueled by the United States Federal Open Market Committee’s move to maintain monetary policy last week, while signaling the possibility of tightening towards the end of the year.
Locally, the Bangko Sentral ng Pilipinas also kept its policy stance steady, even as it raised its inflation forecast for 2019 after maintaining its 2017 and 2018 outlooks.
Also moving the equities market last week was anticipation of the second tax reform package after the first tranche bagged approval by the Senate ways and means committee, raising the possibility of plenary approval before both houses of Congress adjourn for an Oct. 14-Nov. 12 break. The Executive hopes to implement the first tax reform package in January next year in order to help fund the government’s infrastructure push.
PSEi ended last week at 8,281.27, about 1.23% more than its 8,180.85 finish the week prior.
Last week saw P924.791 million in net foreign buying in the last three trading days offset the first two days’ P317.658 million in net foreign selling. — V. V. Saulon
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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.