Top Ten Smart Money Moves – September 29, 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 29, 2016 Data)
Total Traded Value – PhP 7.540 Billion – Low
Market Breadth and Sentiment indicated by Advances Declines Ratio – (Ideal is 2:1 to be considered Bullish or Bearish) 120 Advances vs. 70 Declines = 1.71:1 Neutral
Total Foreign Buying – PhP 3.793 Billion
Total Foreign Selling – (PhP 3.645) Billion
Net Foreign Buying (Selling) PhP 0.148 Billion – first day of Net Foreign Buying after 25 days 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
From now on, I will just quote the related article from Business World so that we will have everything in one piece: ==================================================
Local stocks extend rally as foreign selling ends
By Keith Richard D. Mariano, Reporter
Posted on September 30, 2016
THE MARKET rallied for the second consecutive session and capped the foreign sell-off on Thursday, as investors continued to pick up oversold issues ahead of a possible window dressing while prospects for a recovery in crude prices buoyed sentiment toward the oil and mining sector.
The Philippine Stock Exchange index (PSEi) bounced back to the 7,700 level on Thursday. The 30-member bellwether gained 127.90 points or 1.68% to 7,714.86. The broader all-shares likewise advanced further by 55.98 points or 1.23% to 4,573.39.
“It’s a continuation of [Wednesday’s rally driven by] investors buying back heavily oversold stocks ahead of possible third-quarter window dressing tomorrow,” Joylin F. Telagen, equity analyst at IB Gimenez Securities, Inc., said via text.
Luis A. Limlingan, managing director of Regina Capital Development Corp., noted that purchases during the session allowed the PSEi to pierce through the 7,700 resistance level.
The session gave the market its 19th 100-plus-point gain and the 11th best performance points-wise for the year, Justino B. Calycay, Jr., head of marketing and research at A&A Securities, Inc. said in a market note.
“We continued to track US and regional indexes — and today (Thursday) was a much better day than yesterday (Wednesday),” the analyst noted.
Ms. Telagen and Mr. Limlingan further cited an understanding among members of the Organization of Petroleum Exporting Countries (OPEC) to implement measures aimed at reversing the slump in global oil prices.
“It has been oil’s huge rally overnight over news that global supply will again be shortened that helped the industry and mining and oil sectors to rebound,” Frank Gerard J. Barboza, equity trader at AP Securities, Inc., said in a separate mobile phone message.
All counters posted gains, with property stocks surging by 112.58 points or 3.29% to 3,533.80. Services, meanwhile, climbed by 31.36 points or 2.09% to 1,525.51; mining and oil by 149.79 points or 1.37% to 11,009.92; holding firms by 84.46 points or 1.12% to 7,612.87; financials by 16.27 points or 0.89% to 1,839.12; and industrial by 90.37 points or 0.76% to 11,896.25.
The market witnessed 120 stocks advance versus the 70 that declined and 48 that remained unchanged. Value turnover also improved to P7.54 billion, after 1.48 billion issues exchanged hands, from the P6.40 billion recorded on Wednesday.
The market also logged net foreign buying for the first time since Aug. 23 at P147.73 million. The previous session saw net foreign selling amounting to P272.47 million.
“For [today], I’m expecting that PSEi might possibly touch the 7,800 mark,” IB Gimenez’s Ms. Telagen noted, as fund managers could embark on window dressing.
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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