Top Ten Smart Money Moves – October 26, 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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Trading Notes for Today – (Based on October 26, 2018 Data)
Total Traded Value – PhP 4.968 Billion – Low
Advances Declines – (Ideal is 2:1) 99 Declines vs. 80 Advances = 1.24:1 Neutral
Total Foreign Buying PhP 2.417 Billion
Total Foreign Selling – (PhP 2.816 Billion
Net Foreign Buying (Selling) – (PhP 0.399) Billion – 42nd 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 may fall as volumes thin in shortened week
October 29, 2018 | 12:01 am
By Arra B. Francia
Reporter
SHARES may continue falling in the week ahead as investors stay on the sidelines ahead of the holiday break.
The bellwether Philippine Stock Exchange index (PSEi) jumped 1.39% or 97.49 points on Friday, managing to end on a positive note amid the sell-off that wreaked havoc on most international markets last week.
The main index’s weekly loss, however, still reached 3.04%, weighed down by the financial and property sectors which dropped 3% and 2.3%, respectively. Daily net foreign outflows averaged at P480 million, higher by 22% from the previous week on the back of a P4.9-billion average daily turnover.
“Despite the losses, the index managed to close above the key-support level at 7,000 after falling beneath it several times this week. Our market also performed better than our Asian peers…. The market’s performance this week is clearly an indication that we are not out of the woods yet.” Eagle Equities, Inc. Research Head Christopher John Mangun said in a weekly market report.
Analysts expect little activity in the market this week as financial markets will be closed on Thursday and Friday for All Saints’ Day and All Souls’ Day, respectively.
“With only three trading days next week, it is to be expected that we will see little action in the market as investors may stay on (the) sidelines and start the holidays before everybody else. By now it is certain that the index will end the month of October down two to three percent unless we see some window dressing,” Mr. Mangun said.
Online brokerage 2TradeAsia.com noted the same, saying it expects thinner participation unless “significant catalysts come up to re-entice investible cash into equities.”
The brokerage also warned about more volatility in global markets, which the PSEi has been mirroring for most of last week. Major US indices were down last week, with the Dow Jones Industrial Average losing 3% for the week. The S&P 500 index also fell 3.9%, while the Nasdaq Composite index shed 3.8%.
“Expect to see volatility in global equities, as fund managers run clueless in weighing the odds between ‘fear’ and ‘opportunities.’ US authorities are on a delicate balance in ensuring internal stability within their political sphere, while being in the midst of a gray zone on trade relations with peers,” 2TradeAsia.com said in a weekly market note.
On a technical note, Eagle Equities’ Mr. Mangun said the PSEi could find a bottom soon.
“Historically, October — December has always been a turning point for our market. In the last 18 years, buying the index between the fourth quarter and closing positions by the end of the first quarter of the following year has showed the least risk,” he explained.
2TradeAsia.com placed the index’s immediate support from 6,800 to 7,000, with resistance from 7,100 to 7,200.
Source: https://www.bworldonline.com/shares-may-fall-as-volumes-thin-in-shortened-week/
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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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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.
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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.