Top Ten Smart Money Moves – Apr. 5, 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 Apr. 5, 2016 Data)
Total Traded Value – PhP 5.785 Billion – Low
Market Breadth and Sentiment indicated by Advances Declines Ratio – (Ideal is 2:1 to be considered Bullish or Bearish) 124 Declines vs. 63 Advances = 1.97:1 Neutral with Bearish Bias
Total Foreign Buying – PhP 2.847 Billion
Total Foreign Selling – (Php 3.254) Billion
Net Foreign Buying (Selling) – (Php 0.407 Billion) – 2nd 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 Software
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:
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Posted on April 05, 2016 09:21:00 PM
Valuation, oil supply concerns pull stocks lower
SHARES ended lower yesterday after lingering worries on oil oversupply were coupled with local valuation concerns, analysts said.
The bellwether Philippine Stock Exchange index lost 35.30 points or 0.48% to close Tuesday trading at 7,219.23.
The broader all-shares index also dipped by 19.45 points or 0.46% to finish at 4,184.28.
“Valuation concerns resurface causing some profit-taking,” BDO Unibank, Inc. chief market strategist Jonathan L. Ravelas said in a mobile phone reply after trading hours.
“We are expensive in terms of P/E (price-to-earnings ratio) against the region. These were the same concerns in early 2016,” he added.
Victor Immanuel F. Felix, equity analyst at AB Capital Securities, Inc., said in a telephone interview that the local market was also affected by the continued slump in oil prices amid a supply glut.
“Oil is falling because Saudi Arabia’s crown prince hinted last week that in the April 17 meeting with OPEC (Organization of the Petroleum Exporting Countries) members, Saudi will not curb production unless Iran follows suit,” he explained. “Analysts were expecting it but it looks like it won’t happen.”
Oil slipped to a one-month low on Tuesday after a surprise fall in gasoline demand in the United States, the world’s largest oil consumer, and doubts whether oil producers can agree an output freeze to dampen a global supply glut.
US gasoline demand, one of the strongest pillars supporting oil consumption, fell in January for the first time in 14 months, US Energy Information Administration data showed.
Four out of six domestic subindices ended in the red, with property dropping 34.49 points or 1.16% to 2,937.16. The mining and oil sector fell 91.71 points or 0.85% to 10,678.24; holding firms declined by 54.89 points or 0.77% to 7,065.16; and industrials shed 35.27 points or 0.29% to close at 11,809.82.
On the other hand, services recovered 6.65 points or 0.43% to 1,523.66; and financials inched up by 0.85 points or 0.05% to 1,621.16.
Value turnover improved slightly, rising to P5.78 billion after 1.7 billion shares were traded, from the P5.17 billion reported on Monday.
Foreign investors continued to dump local stocks, with net foreign selling increasing to P406.68 million from the P130.59 million logged in the previous session. Almost two shares declined for every one that advanced, while 42 names did not move.
AB Capital’s Mr. Felix said the local market is just looking for positive indicators that would support the continuation of its bull run.
“We’re expecting a flat market in April as investors become more risk averse coming into the elections,” he added.
On a technical basis, BDO’s Mr. Ravelas said that near-term bias “points to a correction towards 7,000 levels once the 7,200 level is broken.” — Daphne J. Magturo
Source: http://www.bworldonline.com/content.php?section=StockMarket&title=valuation-oil-supply-concerns-pull-stocks-lower&id=125507
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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 P8 Billion b. Medium – Total Traded Value P8 Billion but not more than P15 Billion c. High – Total Traded Value more than P15 Billion
