Top Ten Smart Money Moves – February 28, 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.
Trading Notes for Today – (Based on February 28, 2018 Data)
Total Traded Value – PhP 9.975 Billion – Medium
Advances Declines – (Ideal is 2:1) 111 Advances vs. 96 Declines = 1.16:1 Neutral
Total Foreign Buying – PhP 4.478 Billion
Total Foreign Selling – (PhP 5.417) Billion
Net Foreign Buying (Selling) – (PhP 0.939 Billion) – 7th 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:
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Fed remarks sink shares; market sees 4 rate hikes
February 28, 2018 | 7:15 pm
SHARE prices fell on Wednesday, Feb. 28, after comments from the chairman of the Federal Reserve, which were taken to mean that the Fed may resort to more than three rate hikes this year.
The 30-company Philippine Stock Exchange index (PSEi) shed 117.09 points or 1.36% to close at 8,475.29 today. The all-shares index lost 35.79 points or 0.69% to 5,082.94.
“PSEi’s dip could be due to weakness in the US markets last night after Jerome Powell signaled the possibility of more than three hikes this year,” Papa Securities Corp. trader Gabriel F. Perez said in an e-mail.
The new Fed chairman expressed optimism on the growth of the US economy, which could prompt US monetary authorities to raise interest rate hikes more frequently this year.
“It’s no longer a question of whether the Fed will raise interest rates, because they will raise interest rates. The question is frequency — how many times? Will it be two, three, or four? After last night’s testimony, there are more adherents for four rate hikes (and the market is now looking at) three and four rate adjustments,” Philstocks Financial, Inc. Head of Research Justino B. Calaycay, Jr. said by phone.
US markets ended in negative territory following Mr. Powell’s statements, with the Dow Jones Industrial Average giving up 1.16% to 25,410.03. The S&P 500 index was down 1.27% at 2,744.28, while the Nasdaq Composite index slipped 1.23% to 7,330.35.
The slower growth of SM Investments Corp., which disclosed yesterday that profit grew 6% to P32.9 billion, also failed to draw investors back into the market, according to Mr. Calaycay.
“We expect earnings to at least provide some push. But using SM as an example, it wasn’t really what could compel investors to rush back to the market. Right now we’re looking at the market consolidating and, we hope, building a firmer foundation or firmer support level as we await more numbers,” the analyst said.
The property sector posted the largest decline, dipping 91.59 points or 2.4% to 3,721.70. Holding firms lost 147.41 points or 1.68% to 8,585.06; financials dropped 11.28 points or 0.50% to 2,225.65; while services declined or 0.31% to 1,745.89.
On the other hand, the mining and oil sector recovered, rising 24.43 points or 0.20% to 12,253.82, while industrials climbed 13 points or 0.11% to 11,440.91.
A total of 16.91 billion shares changed hands, valued at P9.97 billion, against P9.25 billion on Tuesday. Advancers outnumbered decliners, 111 to 96, with 52 unchanged.
Foreign investors were net sellers for a seventh straight day, with outflows of P939.04 million, up sharply from the P276.98 million booked on Tuesday. — Arra B. Francia
Source: http://bworldonline.com/fed-remarks-sink-shares-market-sees-4-rate-hikes/
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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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The book continues to receive positive response and comments from our readers. To reach a wider audience we have made the book available through selected branches of National Bookstore:
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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.