Top Ten Smart Money Moves – September 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 September 28, 2016 Data)
Total Traded Value – PhP 6.400 Billion – Low
Market Breadth and Sentiment indicated by Advances Declines Ratio – (Ideal is 2:1 to be considered Bullish or Bearish) 116 Advances vs. 64 Declines = 1.81:1 Neutral
Total Foreign Buying – PhP 3.397 Billion
Total Foreign Selling – (PhP 3.670) Billion
Net Foreign Buying (Selling) (PhP 0.273) Billion – 25th 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: ==================================================
PHL shares recover as investors pick up bargains
By Keith Richard D. Mariano, Reporter
Posted on September 29, 2016
MOST STOCKS leaped into the positive territory on Wednesday, after investors hunted for bargains from a three-day losing streak amid reaffirmations of the Philippine economy’s bright prospects.
The benchmark Philippine Stock Exchange index (PSEi) recovered 29.62 points or 0.39% to 7,586.96. The broader all-shares likewise gained 21.48 points or 0.47% to 4,517.41.
“There was bargain hunting and, thus, we were able to recover after the heavy selling for the past weeks,” Aniceto K. Pangan, equity trader at Diversified Securities, Inc., said in a telephone interview.
The market posted losses in the past three sessions, with the PSEi plunging back to the 7,500 level. The bellwether rallied toward the 7,700 mark last week, after the Federal Reserve deferred an anticipated rate hike in the United States.
“On Tuesday, the market was down for the third consecutive day and, if you’ll note, most markets recovered. Since the US market also went up [on Tuesday], there was some sort of recovery for us,” Mr. Pangan said.
All counters ended in the green on Wednesday, except for the industrial sector that lost another 11.37 points or 0.09% to 11,805.88.
Mining and oil stocks led the ascent, closing 231.79 points or 2.18% higher at 10,860.13. Property rose by 46.99 points or 1.39% to 3,421.22; financials by 8.47 points or 0.46% to 1,822.85; services by 3.69 points or 0.24% to 1,494.15; and holding firms by 12.82 points or 0.17% to 7,528.41.
Advancers outpaced decliners, 116 to 64, while 50 names were unchanged.
“In contrast to what felt like an interminable decline in the preceding 20 or so sessions, this is a sign that optimism is beginning to creep, with the way being paved by bargain hunters,” Justino B. Calaycay, Jr., head of marketing and research at A&A Securities, Inc., said in a market note.
Philippine equities, however, remain under pressure because of lingering uncertainties particularly over the presidential elections and possible rate hike in the US along with President Rodrigo R. Duterte’s pronouncements.
Foreign investors have been fleeing the Philippine equities market since Aug. 23. On Wednesday, net foreign selling increased about 15 times to P272.47 million from the P18.32 million recorded in the previous session.
Value turnover fell to P6.40 billion after 1.44 billion issues exchanged hands, from the P7.76 billion recorded on Tuesday.
“Most were still on the sidelines. As you well know, there’s a lot of uncertainties in the market right now like the probability of an interest hike, which has gone up for the month of December, and here at the local front, uncertainly over foreign policy,” Diversified Securities’ Mr. Pangan said.
The trader further cited continuing valuation concerns, with Philippine stocks priced 19.39 times over their projected earnings.
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We would like to thank you for your Support. Win or Lose, we did our Best and that is the most important thing. More than the votes we received a lot of encouragement and these keep us going in our advocacy: Responsible Trading. Again, from me and The Responsible Trader_com: Maraming salamat po sa inyong walang sawang pagtangkilik at umaasa kami ng mas maganda pang samahan ngayon, bukas at magpakailanman.
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/
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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