Top Ten Smart Money Moves – July 8, 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 July 8, 2016 Data)
Total Traded Value – PhP 11.316 Billion – Medium
Market Breadth and Sentiment indicated by Advances Declines Ratio – (Ideal is 2:1 to be considered Bullish or Bearish) 104 Advances vs. 86 Declines = 1.21:1 Neutral
Total Foreign Buying – PhP 6.256 Billion
Total Foreign Selling – (Php 4.057) Billion
Net Foreign Buying (Selling) Php 2.199 Billion – 1st day of Net Foreign Buying after 1 day 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:
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PSEi ends flat, weighed down by mining stocks
Posted on July 09, 2016
THE local stock market ended the Friday session flat, weighed down by mining stocks, renewed Brexit fears and anticipation of US jobs data later in the day.
The bellwether Philippine Stock Exchange index closed 0.23% or 18.06 points higher at 7,771.52. The broader all-shares index inched up 0.11% or 5.14 points to 4,713.90.
“Well, there’s the unemployment figures of the States but we’re still in a trading range and markets are rather flat in the US markets so we were not expecting much today,” Luis A. Limlingan, managing director of Regina Capital, said.
“Overnight, the US market had minimal movement. The US was down but intra-day foreign reserves hit a three-day high. We’re taking that as a good omen for investors,” he added.
Investors will keep a close eye on US non-farm payrolls figures for June for clues about the direction of Federal Reserve’s interest rate plans.
In a phone interview, Victor F. Felix, analyst at AB Capital Securities, Inc., said the day’s performance was “just average.”
“The momentum seen last week was disrupted by the holiday on Wednesday and there were more Brexit fears reignited… Performance today is flat. We saw Tuesday and Thursday where we ended in the red. So it seems investors are still looking for more positive indicators in the global space before they rally,” he said.
Mr. Felix added that the resignation of UK Independence Party leader, Nigel Farage may have been viewed as a risk, prompting investors to seek shelter in the Japanese yen and the US dollar.
On Friday, property was up 0.80% or 27.08 points to 3,418.88, while financials climbed 0.60% or 10.45 points to 1,765.15. Services rose 0.22% or 3.62 points to 1,647.62, while holding firms increased 0.12% or 9.05 points to 7,627.04.
However, mining declined 196.16 points or 1.7% to close at 11,333.17, while industrials lost 0.41% or 47.94 points to 11,750.38.
News that the Department of Environment and Natural Resources (DENR) suspended the operations of two mines in Zambales weighed on stocks of mining companies.
“I think that was a reaction on the suspension of some mines. And oil has weakened in the previous closing trading period, and energy companies were heavy hit,” said Mr. Limlingan.
Listed miner Benguet Corp. on Friday confirmed operations of subsidiary Benguetcorp Nickel Mines, Inc. (BNMI). in Sta. Cruz, Zambales were suspended by the DENR on July 7.
Shares in Benguet dropped 5.47% to close at P7.09 apiece, while other mining firms trended lower, such as Philex Mining Corp. (down 1.46%), Semirara Mining and Power Corp. (down 1.69%), Nickel Asia Corp. (down 2.47%), Global Ferronickel Holdings, Inc. (down 1.11%) and Lepanto Consolidated Mining Company (down 2.75%).
“A lot of people are a bit wary now on the mining space,” Mr. Felix said, citing the recent pronouncements of Environment Secretary Regina Paz L. Lopez.
Ms. Lopez was quoted by Reuters as saying there would be a ban on fresh mining exploration while the DENR is conducting a review of all existing mines in the country.
Advancers beat decliners, 108 and 86, while 40 remain unchanged.
Value turnover reached P11.32 billion, higher than Thursday’s P8.69 billion.
Foreigners turned net buyers with cash flows coming in at P2.20 billion, a turnaround from the P726.64 million selling on Thursday. — Janina C. Lim
Source: http://www.bworldonline.com/content.php?section=StockMarket&title=psei-ends-flat-weighed-down-by-mining-stocks&id=130150
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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
