Top Ten Smart Money Moves – October 8, 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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Advances Declines – (Ideal is 2:1) 115 Declines vs. 71 Advances = 1.62:1 Neutral
Total Foreign Buying PhP 2.073 Billion
Total Foreign Selling – (PhP 2.601) Billion
Net Foreign Buying (Selling) – (PhP 0.528) Billion – 28th 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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PSE index falls on inflation, interest rate concerns
October 8, 2018 | 9:00 pm
By Arra B. Francia, Reporter
LOCAL EQUITIES slumped on Monday as investors remained cautious given inflationary pressures on the Philippine economy.
The bellwether Philippine Stock Exchange index (PSEi) fell 0.39% or 27.38 points to close at 7,050.82. The broader all-shares index likewise went down 0.36% or 15.52 points to 4,347.84.
“The market right now is still absorbing all these economic situations: interest rates, inflation, peso-dollar weakness, that is right now what is being problematic to the market and investors are concerned how they can see inflation improve in the coming months,” Summit Securities, Inc. President Harry G. Liu said in a phone interview yesterday.
On a technical note, Mr. Liu said the main index has a support level of 6,950, indicating that it could fall closer to its 52-week low of 6,923.67.
“We have been a bit oversold, the volume is thin. So there’s pressure to rally up, but if it rallies up, that would be very positive. So right now that’s what the investing public’s watching out for,” he explained.
The PSEi tracked the negative performance of indices overseas as the Dow Jones Industrial Average declined 0.68% or 180.43 points to 26,447.05 on Friday. The S&P 500 index also shed 0.55% or 16.04 points to 2,885.57, while the Nasdaq Composite index also plunged 1.16% or 91.06 points to 7,788.45.
Regional indices were also in negative territory on Monday, as investors prepared for the reopening of Chinese markets after last week’s holiday.
Regina Capital Development Corp. Managing Director Luis A. Limlingan attributed the decline to the People’s Bank of China’s (PBoC) reduction of its reserve requirement ratio (RRR) by an unexpected 100 basis points starting Oct. 15.
“Philippine shares started off on a negative note as the PBoC cut RRR unexpectedly… The most recent cut could suggest a higher priority of stabilizing domestic growth amid notable escalation in US-China confrontation after US Vice-President Pence’s speech on Oct. 4,” Mr. Limlingan said in a mobile message.
Back home, four sectoral indices declined, while two managed to increase. Industrials slipped 0.7% or 73.25 points to 10,331.90; holding firms dropped 0.51% or 35.24 points to 6,916.22; property shed 0.27% or 9.52 points to 3,478.45; while financials dipped 0.1% or 1.51 points to 1,573.45.
Meanwhile, mining and oil jumped 1.21% or 104.52 points to 8,757.19, and services rose 0.23% or 3.51 points to 1,507.34.
Decliners outpaced advancers, 115 to 71, while 56 names remained unchanged.
Some 769.20 million issues switched hands valued at P4 billion, falling from the previous session’s P4.08-billion turnover.
Foreign investors continued their selling spree, recording net sales of P527.90 million, albeit lower than Friday’s P885.37 million.
Source: https://www.bworldonline.com/pse-index-falls-on-inflation-interest-rate-concerns/
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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.