Top Ten Smart Money Moves – November 10, 2017
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 November 10, 2017 Data)
Total Traded Value – PhP 7.530 Billion – Low
Advances Declines – (Ideal is 2:1) 134 Declines vs. 73 Advances = 1.84:1 Neutral
Total Foreign Buying – PhP 3.939 Billion
Total Foreign Selling – (PhP 4.162) Billion
Net Foreign Buying (Selling) – (PhP 0.223) Billion – second day of Net Foreign Selling after 5 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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Stocks seen sideways ahead of ASEAN, GDP data
November 13, 2017
INVESTORS will be looking this week at the outcomes of the 31st Association of Southeast Asian Nations (ASEAN) Summit and Related Summits as well as the release of gross domestic product (GDP) data for the third quarter to drive trades.
The market ended lower on Friday, but posted a second weekly gain. The Philippine Stock Exchange index (PSEi)closed at 8,433.48, down 86.34 points or 1.01% from Thursday’s finish but higher than its 8,376.13 close last Nov. 3.
“This week, the first half, we’ll be watching out for any important announcements that may result from the ASEAN Summit. Later, all investors will be focusing on Philippines Q3 GDP, which is scheduled to be released on Nov. 16. We expect the pace of growth in the Philippines to have moderated to 6.7%,” Luis A. Limlingan, managing director at Regina Capital Development Corp., said in a text message.
The 31st ASEAN Summit and Related Summits started yesterday. Security concerns such as North Korea and the South China Sea are expected to be tackled during the talks happening until tomorrow.
The Philippines will be signing with some countries bilateral agreements on trade, tourism, and other key areas, and President Rodrigo R. Duterte is expected to have meetings on the sidelines of the summits, not only with ASEAN leaders but other world leaders like Japanese Prime Minister Shinzo Abe and Canadian Prime Minister Justin Trudeau.
Meanwhile, the GDP growth report to be released on Nov. 16 is seen to go either way, following mixed foreign direct investments, trade and manufacturing data released on Friday.
The economy grew by 6.4% and 6.5% in the first and second quarters, respectively.
Moody’s Analytics gave a 6.6% estimate for the third quarter, citing steady inflows of overseas Filipino worker remittances and a robust job market, and firm investment from government infrastructure projects.
On the other hand, Manuel Antonio G. Lisbona, president of PNB Securities, Inc., said the market might continue to consolidate this week.
“The market might continue to correct this week, as investors continue to lock in gains from the recent run-up,” Mr. Lisbona said in a text message. He added that they are expecting immediate support area of 8,300 to 8,350.
Meanwhile, Wall Street ended marginally lower on Friday, with losses in Intel and Apple as investors worried about the future of promised corporate tax cuts following dueling plans unveiled by Republican lawmakers.
US Senate Republicans released a tax plan on Thursday that differed from a version put forth by the House of Representatives on several key fronts, including putting off corporate tax cuts for a year.
Failure to cut corporate taxes would increase concerns about US President Donald J. Trump’s ability to pass legislation and could shake markets that have been banking on lower tax rates to boost company earnings. — Patrizia Paola C. Marcelo with Reuters
Source: http://bworldonline.com/stocks-seen-sideways-ahead-asean-gdp-data/
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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 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.