Top Ten Smart Money Moves – October 12, 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.
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Total Traded Value – PhP 5.283 Billion – Low
Advances Declines – (Ideal is 2:1) 127 Advances vs. 56 Declines = 2.27:1 Bullish
Total Foreign Buying PhP 2.496 Billion
Total Foreign Selling – (PhP 3.216) Billion
Net Foreign Buying (Selling) – (PhP 0.720) Billion – 32nd 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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Shares seen sideways amid outflows, lack of leads
October 15, 2018 | 12:01 am
By Arra B. Francia, Reporter
SHARES are seen to trade sideways in the week ahead as the market tries to bounce back from this year’s record low, amid the continued outflow of foreign investors and lack of positive leads.
The bellwether Philippine Stock Exchange index (PSEi) climbed 1.74% or 120.39 points to close at 7,004.77 on Friday, recovering from Thursday’s plunge into the bourse’s record low finish of 6,884.38 for 2018. The main index joined the global equity sell-off last week, which showed the Dow Jones Industrial Average skidding to a eight-month low.
“Overall, our market performed better than the rest of the global markets… It could be because of the fact that western markets are coming off recent highs while our market has been taking a beating for most of the year,” Eagle Equities, Inc. Research Head Christopher John Mangun said in a weekly market note.
On a weekly basis, the index dropped 1% or 73 points, weighed down by holding firms, which dropped 2.2%, and financials, which was down 1.6%. Turnover inched up by a percent to P4.82 billion.
Foreign investors dumped more funds, with average net foreign outflows rising by four percent to average at P555 million per day last week.
“Friday’s rebound should see some follow-through support, which backs up our range-trading view on the market. The important thing to remember is surviving the volatility, until external anxieties ebb,” online brokerage 2TradeAsia.com said in a weekly market note.
The online brokerage noted that while inflation, the weaker peso, and higher interest rates are still “top-of-the-mind” for investors’ watch list, they should also look at economic growth.
“Despite recent downgrades from multilateral institutions (e.g. International Monetary Fund, World Bank), the fact exists they still see growth, albeit at a slower pace versus their earlier bullish tone at the start of the year,” 2TradeAsia.com said.
For Eagle Equities’ Mr. Mangun, the index’s performance this week will rely on foreign investors.
“The index is struggling to stay above 7,000 and local investors are doing their best to support this market. However, the bottom line is that we will not see any significant gains in this market until we see foreign outflows slow down,” Mr. Mangun said in a weekly market note.
Mr. Mangun mapped out two scenarios for the index in the week ahead, saying it could either move sideways and stay above the 7,000 level or fall and test the next support level of 6,800.
“Based on market sentiment, there is a stronger possibility of the latter scenario. Majority of investors will continue to stay on the sidelines while foreigners are dumping and let the market decide what it’s going to do. The result is lower trading volumes,” he explained.
2TradeAsia.com placed the market’s support at 6,900 to 7,000, while resistance could be from 7,200 to 7,250.
Source: https://www.bworldonline.com/shares-seen-sideways-amid-outflows-lack-of-leads/
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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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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.