Top Ten Smart Money Moves – January 23, 2019
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.
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Total Traded Value – PhP 6.661 Billion – Low
Advances Declines – (Ideal is 2:1) 120 Declines vs. 77 Advances = 1.56:1 Neutral
Total Foreign Buying PhP 3.996 Billion
Total Foreign Selling – (PhP 3.776) Billion
Net Foreign Buying (Selling) – PhP 0.220 Billion – 5th day of Net Foreign Buying after a day of Net Foreign Selling
Data from the Philippine Stock Exchange
Screenshot courtesy of 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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PSEi edges lower on lingering growth concerns
January 23, 2019 | 9:00 pm
By Arra B. Francia, Reporter
THE MAIN INDEX edged lower on Wednesday on profit taking amid expectations of slower global economic growth due to the US-China trade war.
The bellwether Philippine Stock Exchange index (PSEi) dropped 0.23% or 19.02 points to close at 7,989.65 yesterday, but managed to trim its losses in early trading. In contrast, the broader all-shares index added 0.08% or 4.04 points to 4,814.01.
“Market went on profit taking today after IMF (International Monetary Fund) revised global growth downwards as China growth slows due to trade war (with the US),” Diversified Securities, Inc. trader Aniceto K. Pangan said via text on Wednesday.
The IMF this week cut its global growth outlook by 0.2% to 3.5% in 2019 and by 0.1% to 3.5% in 2020. Among the factors for the weaker outlook is the trade war between the US and China, which has yet to be resolved.
In addition, the US is currently on the 32nd day of its partial government shutdown, as Congress refuses to submit to US President Donald J. Trump’s demand of funding a $5.7-billion wall that would keep immigrants out of the country.
Eagle Equities, Inc. Research Head Christopher John Mangun noted that the index could have gone lower if not for last-minute buying at the run-off period.
“Nonetheless, our market still did better than equities markets in the west and even here in Asia,” Mr. Mangun said in an e-mail.
Wall Street indices bled overnight. The Dow Jones Industrial Average plunged 1.22% or 301.87 points to close at 24,404.48. The S&P 500 index plummeted 1.42% or 37.81 points to 2,632.90, while the Nasdaq Composite index fell 1.91% or 136.87 points to 7,020.36.
Asian markets, meanwhile, ended mixed due to uncertainties over the US-China trade war.
All sectoral indices moved to negative territory back home, led by the mining and oil counter, which fell 0.89% or 78.13 points to 8,698.33.
Property shed 0.39% or 15.94 points to 3,985.28; industrials dipped 0.35% or 41.75 points to 11,618.43; holding firms retreated 0.3% or 24.13 points to 7,932.22; services went down 0.27% or 4.30 points to 1,546.41; while financials slipped 0.21% or 3.81 points to 1,805.43.
Some 1.22 billion issues valued at P6.66 billion switched hands, slightly higher than Tuesday’s P6.47-billion turnover.
Decliners swamped advancers, 120 to 77, while 57 names were unchanged.
Net foreign buying persisted for the fifth straight day at P219.66 million, albeit lower than the previous session’s P908.64 million.
“The market continues to trade sideways, and with the release of GDP numbers tomorrow, we may see it gain some momentum as better numbers are expected than the previous quarters,” Eagle Equities’ Mr. Mangun said on Wednesday.
Source: https://www.bworldonline.com/psei-edges-lower-on-lingering-growth-concerns/
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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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3. The YouTube Channel: https://www.youtube.com/theresponsibletrader – where you can learn the course “Master’s Certificate in Technical Analysis” which was simplified in an easily understood manner. You can download these videos and learn them at your own convenient time. (FREE)
4. My Slideshare: http://www.slideshare.net/TheResponsibleTrader – where you can view and download copy of the Powerpoint Presentation of my TRT-POV (The Responsible Trader’s Point of View) of the videos posted in our Youtube Channel. (FREE)
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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.