Top Ten Smart Money Moves – June 7, 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 June 7, 2018 Data)
Total Traded Value – PhP 6.935 Billion – Low
Advances Declines – (Ideal is 2:1) 119 Advances vs. 77 Declines = 1.55:1 Neutral
Total Foreign Buying PhP 3.467 Billion
Total Foreign Selling – (PhP 3.954) Billion
Net Foreign Buying (Selling) (PhP 0.487) Billion – 17th day of Net Foreign Selling after 2 days of Net Foreign Buying
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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PHL shares extend climb on easing global worries
June 7, 2018 | 9:00 pm
LOCAL SHARES extended their rally on Thursday as concerns over a global trade war continue to ease.
The Philippine Stock Exchange index (PSEi) climbed 114.17 points or 1.48% to close at 7,803.31 Thursday, June 7.
The broader all-shares index also added 54.58 points or 1.16% to 4,723.86.
Luis A. Limlingan, managing director at Regina Capital Development Corp., said shares gained as global risks subsided — albeit only in the short term — after easing worries over a trade war between the world’s two largest economies.
“The Philippines felt the effect of US stocks ending firmly higher, led by financials and basic materials, with two major indexes ending at records as equities extended a recent winning streak to a fourth straight session,” Mr. Limlingan said.
“On the other hand the local market brushed aside the development in the European front: a choppy day, as ECB (European Central Bank) officials indicated policy makers will begin to focus on ending the central bank’s QE (quantitative easing) program,” he said.
The ECB’s chief economist Peter Praet, a close ally of President Mario Draghi, said on Wednesday that the ECB would debate next week whether to end bond purchases later this year.
“Overall crude and refined product inventories rose the most since May 2009. Crude supplies climbed by 2.07 million barrels last week on higher production and imports, the EIA (Energy Information Administration) said,” Mr. Limlingan added.
Papa Securities Corp. trader Gabriel F. Perez said the PSEi was stronger throughout the trading day. “With this gain, the index broke through its initial resistance levels at its 50-day moving average and 50% [Fibonacci] level between 7,750 to 7,790.”
Almost all sectoral indices finished in the green, led by financials, which advanced by 47.73 points or 2.51% to 1,942.49. Holding firms gained 125.91 points or 1.65% to close at 7,751.96; mining and oil added 98.26 points or 0.96% to 10,244.01; industrials inched up 89.97 points or 0.83% to 10,873.20; while property climbed 28.25 points or 0.74% to 3,847.92.
Meanwhile, services was the lone decliner, falling 6.21 points or 0.41% to end at 1,499.60.
Value turnover stood at P6.93 billion as 1.43 billion shares changed hands, up from the previous day’s P5.94 billion.
Advancers outpaced decliners, 119 to 77, while 45 names were unchanged.
Foreigners continued to sell their holdings, recording a net outflow of P486.83 million, more than Wednesday’s P14.08 million net sales.
“The next level to watch out for now would be 7,900, the area of the PSEi’s previous high last May 15,” Mr. Perez said.
Regina Capital’s Mr. Limlingan also expects the market to stay above the 7,750 mark.
“Our resistance is 7,850 and the market should keep above 7,750 which is the [50-day moving average] to show signs of a reversal,” he said. — D.A. Valdez
Source: http://bworldonline.com/phl-shares-extend-climb-on-easing-global-worries/
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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.
As requested by those abroad and those who want the book in digital form, we have produced an eBook version. For those interested please send email to: ninjatrader19@gmail.com Subject: The Responsible Trader – eBook Version.
The book can also be ordered online through our publisher, Central Book Supply. Just go to: http://central.com.ph/bookstoreplus then click Search – The Responsible Trader.
2. The Website: :http://www.theresponsibletrader.com where we publish our daily newsletter Top Ten Smart Money Moves, Stock Trading Lessons, and Inspirational Materials. (FREE)
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.