bueno, la respuesta es relativa pero mi punto de vista es que no esta demás saber interpretar las noticias o reportes económicos en forex, dicho esto tampoco significa estar 100% detrás de las noticias relacionadas con alguna moneda en especifico y tampoco buscar noticias en varias paginas de noticias diferentes, por lo menos no la mayor parte del tiempo.
Puedes ser un trader que se enfoca en análisis técnico pero yo te recomendaría estar pendiente de los eventos importantes del calendario económico que tenga alguna de las monedas de los pares que operas para esa semana (por lo general son 4 o 8 eventos de alto impacto cada semana). No necesitas prestarle atención a todos los eventos de una moneda en un calendario económico, los que mas afectan son los de alto impacto y si quieres puedes dejar los de mediano impacto, lo que si te recomendaría es que elimines lo eventos de bajo impacto por esos son muchos y no impactan nada el precio de un par.
Algunos se preguntaran si hay que estudiar mucho para entender que nos indica un reporte económico? la verdad es que no hay que graduarse de economista, yo utilizo el calendario de MyFXbook y cuando selecciono un evento económico este me dice que se puede espera si el reporte es mayor o menor a el reporte anterior y al reporte esperado, MyFXbook nos dice si es beneficioso para la moneda o no si el reporte es negativo o positivo, sin embargo, yo personalmente les recomendaría que busque cuales son los eventos económicos que afectan mas a una moneda, ademas de que averigüen el porque dichos eventos que encuentren afectan a la moneda de manera positiva o negativa.
Estos eventos básicamente nos ayudan a ver que moneda tendrá mas oferta que demanda dependiendo de los números de los reportes.
Un dato para terminar, cuando veas mucha volatilidad en una moneda de forex es por lo general debido a alguna noticia de alto impacto (no manipulación jaja), existen excepciones en que hay movimientos fuertes de la nada pero pasa muy poco.
Si haces scalping, entender y saber cuando sale un reporte de alto impacto puede ser beneficioso ya que la alta volatilidad puede ser muy peligrosa si no sabemos la razón de la misma, así que ten en cuenta las noticias de alto impacto, ellas te ayudaran mucho a entender mejor la tendencia macro de un par y el porque de un movimiento fuerte en un momento determinado.
Si quieres hacerme una pregunta o tienes algún comentario o critica la puedes dejar en lo comentarios para que lo podamos conversar y los demás miembros de la comunidad se beneficien.
Éxito en tu trading!!

"My fellow Terrans, Humans, All of Earth or Terra, whichever you deign to use, the Senate has heard your cries of outrage. We have heard your wails of pain, your righteous fury, your demand for retribution for those taken from us, and your mourning of Ares. Some of you have asked us to reach out to this alien Senate, this Sapient Alliance, and demand they hold the Axon responsible, some of you have asked for us to isolate ourselves from the galaxy, to let the sleeping bones lie. I am afraid neither will be successful. The S.A.'s council has given a paltry ruling, one meant to appease rather than deal with the issue at hand, a trait we have seen previous nations do all too often. They will not stop the Axon. Isolation will only weaken our homes to attack, let us not forget that while the Axon are truly a scourge, the Hexat and Krultathan peoples have come to our aid, assisting us with their ships and technology. Without them, it is unknown whether the Axon would have stopped at just Ares. No, Isolationism is not the answer either." The Senate speaker, an elderly man with many decorated medals, spoke. He was Andreus Filcher, the 131-year-old survivor of the Great Wars. He looked at the people assembled before the Senate halls with a quiet, weary look one might expect from their grandfather remembering a painful past, his gray hair cut short, and a decent beard on his tanned, leathery face. His green eyes looked weary from all they had seen, but his voice, while sorrowful, was unwavering.
"Many of you know how strongly I pushed for peaceful negotiations over war after the first nations agreement, many more may remember their fathers or mothers telling of what hell the great wars had been after the nuclear fallout in the middle east. I lived through it all, so do not take lightly what I am about to say, as hypocritical as it may seem to you.
Humanity has waited, we have waited for the response of the foreign governments to deal with their terrorists, and we have found their response wanting. Peaceful ways have failed and fallen. The Axon intends to end Humanity as we know it, making us slaves or wiping us out. And so it is with a heavy heart that I have to say. Terra Firma is revoked. Terra Bellum Salvos Is now instated. War Economy is now in effect. Army size limits are now lifted. War Tech is now in effect. Make us of the gifts our allies have given us, and the precious time we have, for Humanity is now in a war for survival.."
--
Viza turned off the holo-viewer and looked at Amelia, seeing the distress on her face. He knew that despite her attitude, she didn't really want war, that she had been secretly hoping the council would make good on the Axon violating their own laws, but it had been a fleeting hope. With the Terran Senate speaker's words, and with the recent news of the Axon seceding from the S.A. if any support the humans, War was all but inevitable. He placed a paw on his mate's shoulder, pulling her in for a close hug as she sat there silently.
"I knew it would be bad, but for them to declare Bellum Salvos so quickly...Viza, this is...it's going to be a bloodbath. What if iI had acted differently at the council? what if I had given over data showing Humanity could help defend them if given the technology, that they didn't need to be dependent on the Axon? What if-" Amelia started quietly, her overthinking showing itself, though less than it used to. Viza stopped her with a touch to her face, making her look at him, to focus on him, and still her mind.
"Many warriors of Krultatha have the same thoughts, before and after a battle. If they had done something differently, would things have changed? The truth, my huntress, is that it does not matter. No matter how much you may dwell on it, what's done is done, though if you wish for my thoughts on it, I would say you gave the council ample opportunity to fix things themselves, and they failed. Even if you had given them the data on humans, it would not have changed their minds. Most were already made up long before they entered that call, I think."
They were in the spare room Amelia had set up for the nanoforge, tying it into the power supply and with direct access to the ship's cargo hold. It was mostly empty for now, but she had been working on a few weapon designs for the ship when the broadcast from the FTL comm buoy had been received, dated two days prior. That had meant that, since they informed Terra of the results of the meeting, as well as Amelia's personal ship being underway to them right before they left, the decision for this had been made in only 3 days, accounting for delays in communication.
It would be another 3 weeks before they reached Terra since while the Elysium was much faster than the Kixax, it also could carry less fuel and burned it faster, requiring them to have to refuel before making it to Terra. Ti'Chal had suggested several different stations along the way, but that had been put aside when the Kixax relayed a message to them from Ratizherr station in Avi'Sharr space. Apparently, the insectoid race wanted to speak with Amelia as an ambassador to the new T.G.A. Viza had approved, stating that despite their insectoid lineage, the Avi'Sharr were quite empathetic, owed in part to not being a hive-mind species, and in part for having utterly helpless young stages in their lifecycle. Kixixlix must have agreed since he forwarded it in the first place so, against her better judgment and with getting Ti'Char's approval via allowing her to make a full "royal honor guard" Amelia had agreed. Now though, she was more worried about making sure the Elysium was fully armed and prepared for anything, she had even been debating pulling out more serious Azathoth files, but those would require things that she didn't yet have access to, and would require Hal's approval as well, a safety net she had built in to prevent her from using the files rampantly herself.
Speaking of, he was enjoying walking around the ship, talking to the crew now that he didn't have to hide, Amelia had even built a wireless power collector for his frame so that he wouldn't have to go in low power mode as often, now that she didn't have to worry about people looking at the ship's power systems too closely. Back to the issue at hand, however, Amelia nuzzled Viza a bit before stepping back to the nanoforge.
"I know, I'll be okay. The emission upgrades to the laser turrets are done already, though we've sacrificed firing speed quite a bit for raw power. They'll now use UV band lasers. Engineer Savi said something about modifying the shield emitters to provide sectional redundancy, which should help keep the entire shield network from going down. Smart one, that gal." Amelia started as she worked at the nanoforge's design screen some more. Having its limiters removed made it a lot easier for her to use since she was able to convert it straight to English and modify the user interface to her liking now. No more mess-ups like before.
"What about the hellfire PDFs you were on about?" Viza asked as his tail swished, seeing Amelia focus back on her task. He leaned against the wall and watched her work with a smile in his eyes.
"Mmm, no good until we get to Earth. I can make them with this thing, but the ammo they use is...difficult, it would eat up a lot of materials. Materials I'm going to need for our "claws" As my now-apparent sister says." Amelia said, sounding annoyed but her face showed anything but. Despite how she worded it, Viza thought she was actually growing fond of the Queen-Matriarch. What drew his attention even more, however, was the way Amelia talked about needing materials for something. The thing that would by far eat up the most materials was whatever she decided to put in the centerline mount below the ship.
"Oh, I take it that means you've decided on which "Big-Fucking-Gun" as you called it, is going there?" Viza asked amusedly as he stops slinking against the wall and walks over to view the design screen at Amelia's request. Viza's eyes go wide in shock, his ears pin back, and his tail drops.
"Is...Is that a.."
Amelia grins almost demonically at seeing his face. "Yup. You all went on and on about the Axon shield tech and how none of your traditional weapons work against it, so I made something..different."
"That." Savi, the Krultathan engineer started as she walked in. She was just over 8.5 feet tall and had a tabby cat coloring to her fur with mismatched green-yellow eyes. She had somehow gotten in without either of them noticing.
"Is an abomination...Where can I get one."
Viza looked at the engineer as if she were a devil herself, and Amelia just laughed. "Tell ya what, Savi, I'll let you be the first to fire it. Big red button and all."
Both of them looked at her this time curiously. "Big red button?"
"It's.. never mind." Amelia said, waving them off, and then out. "Now shoo, I need to work, stop distracting me with engineering and adorable loverboy-ness."
-------------------------------------------
Kixix felt a shiver run down his back as he watched the Terran senate-speaker's speech. Something about the way the man looked gave off a feeling of danger in the back of his mind, as if he weren't looking at an old man but a ferocious predator, which he supposed he was. Looking back down at the holopad, he still couldn't believe what the report said. With just three birthing ships now in system, as well as Krultatha supplying basic ship designs and tech, Humanity was already in the process of improving upon both the Hexat and Krultathan designs, making them their own, and producing ships with them. Granted they were nowhere near the size of Krultathan cruisers or his own Kixax, but the sheer efficiency that the humans were working with was incredible, as they expected their first battlecruiser of their own design, a mere 600 meters long, to be finished by the end of the week structurally, and outfitted in another.
They had even improved the efficiency of the birthing ships themselves, claiming they were "too slow" to keep up with their needs. Whatever one could say about Humanity, when their entire planet was put towards a task, they were startlingly efficient at getting it done, almost frighteningly so, and Kixix had to let out a nervous laugh, thinking about how when he first heard of them he wanted to do anything but play ambassador to a bunch of deathworld primates. Now here he was, cheering them on. He even approved of the name they were giving their first battlecruiser.
"Are's Vengeance"
He found it rather honorable, even Noble, they would name it after their lost settlement, a reminder to both sides what set this all off. He himself still had his own war to deal with, however, after being tasked by Amelia to get the Ava on their side. He didn't understand what her thought process was on this one, as everyone knew the Ava, while deathworlders, were weak in combat, and were isolationists. He understood checking to see if the Axon had their partners gene alter them, but other than that, he could not see the point. He just hoped the human girl knew what she was doing. He would be there in just 3 days, as the Ava homeworld was not far away, but still, he was hesitant. He would be the first ship known to enter their home system in 400 years, and trepidation had him worrying if their stellar infrastructure even worked still.
-------------------
"You humans are insane, you know that? Statistically insane, the lot of you! How the hell did one of you figure out how to accelerate a mass-having projectile to 5 percent the speed of light?!" Kevi asked, the shorter-than-average Hexat having blown a fuse over the railgun designs again. The exosuit he was wearing as well as his own enhancements, namely mechanical legs and arms from having been born paraplegic, the only reason why the Hexat could survive Terra's crushing gravity. His white-silver fur bristled in annoyance as he looked at his human counterpart, an engineer by the name of O'Donnelly.
"Railguns? We use ta electricity ta make a magnetic field, an propel ta slug of ferrous material ta-" O'Donnelly started before getting bapped on the leg by the angry Hexat with said designs.
"I know that, Engineer O'davunelly. I've seen the designs. But how insane is your species to make it instead of laser weaponry, or even plasma weaponry."
O'Donelly shrugs, running a hand through his russet brown hair as his brown eyes rolled at the butchering of his name. "Dunno what ta tell ya. Can ye make it a not?"
Kevi's translator had a difficult time with the Human's thick accent, but he swore it was because the human engineer was purposefully changing it just to mess with him. sighing, he nodded. "It is..unusual, but yes, we's already finished the prototype to be mounted on your first battlecruiser. I still do not see why you humans prefer slug throwers to proper weapons."
"Aya, ya might find it a wee bit odd, but have a thunk in that noggin. If ta Axon's shield been calibrated ta dissipate plasma an laser, with has ta energy payload as thermal, whatya think happens when ta payload is changed to kinetic an thermal with 5 times ta force?"
Kevi starts doing mental math in his head, trying to calculate the force for such an impact before realizing everything that had been said. Shields were calibrated for laser and plasma, not matter. Or for matter only, not thermal. Either way, this weapon's payload would do serious damage, and if it wasn't blocked by kinetic shield, then...
"You...weaponized the drone tactic used on Ares?!"
"Nah, we had ta railguns for oh..century or so. Just got ta upgrade to them thugh."
Kevis clicks his teeth in frustration, he's going to assume that the translator malfunctions, because he didn't want to that about if it were true. Using magnetism and the boson effect to slingshot matter at a fraction the speed of light? terrifying. The first encounter with the Axon would be brutal before they could have a chance to adapt to the new type of weapon, if they could.
-----------------------
"THOSE IMPUDENT APES!" Axon queen Carcian bellowed out, throwing the report across her chambers. The collector ship had never made it back, and they had just now found out why. One of the humans had escaped containment, and somehow made the reactor go critical. What should have been a supply of eight thousand humans had turned into only twenty recovered, and most of them had resisted every effort to subdue to the point they lost several. Carcian had never seen a species fight so hard against something inevitable before, such was the impudence these humans had.
"Get me Commander Zikal." She shouted to one of her workers, who nodded and promptly left, likely happy she hadn't ended him then and there. he returned a few moments later with a female Axon, approximately twice his height, in tow. She was a scarred individual, evidence of many battles and wars she had fought, one of the most decorated the Axon had, yet had not a brood her own. Rumors speculate it was because of twisted desires for not of her kind, but none would dare speak such things to her maw.
"Commander Zikal, I've called you here for one reason and one only. These impudent primates have made a mockery of us to the council, and have incited rebellion among the Hexat and Krultathans. Put them down. Take an extermination fleet, and wipe out half their population by any means necessary. Afterwords, force the other half into subservience or death, I care not how. The Axon Empire's honor WILL be restored. Do this, and I will grant any one of your wishes."
The commander nodded and asked how much time she had to prepare, to which the Queen responded their equivalent of time to two weeks. The Commander saluted, then turned to leave promptly, her task at hand.
The queen, in the meantime, looked at the male worker curiously, its fear bringing her delight and warmth. "Your name, male."
"Bitzas, my queen." It said timidly.
"I shall have you tonight Bitzas." The Queen demanded, as she enjoyed watching the relief wash over his face. In time she knew that it would be replaced by fear once again, before the pit took him, and the thought brought great joy to the sadistic creature. --------------------------------------------- PREV|FIRST|NEXT|ROYALROAD

List of unauthorized forex trading apps and websites - RBI

Friends, recently the Reserve Bank of India has released a list of 34 forex brokers; which has been declared illegal.
​
https://preview.redd.it/dc1l0ca388o91.jpg?width=637&format=pjpg&auto=webp&s=1a865302fede2fd22985b27c767481ecb4219204
Before releasing this list, RBI had done all checks regarding all transactions of all those forex brokers since February this year. Maybe this doesn't matter to you; Nevertheless, you should definitely check this list once.
So see if your forex broker is not on this list!
👉 Here's a full list of unauthorized forex trading apps and websites

1. Alpari
2. AnyFX
3. Ava Trade
4. Binomo
5. e Toro
6. Exness
7. Expert Option
8. FBS
9. FinFxPro
10. Forex.com
11. Forex4money
12. Foxorex
13. FTMO
14. FVP Trade
15. FXPrimus
16. FXStreet
17. FXCm
18. FxNice
19. FXTM
20. HotFores
21. ibell Markets
22. IC Markets
23. iFOREX
24. IG Markets
25. IQ Option
26. NTS Forex Trading
27. Octa FX
28. Olymp Trade
29. TD Ameritrade
30. TP Global FX
31. Trade Sight FX
32. Urban Forex
33. Xm
34. XTB

Thanks for Reading.
Please share your take on this.

I have engaged somewhat lengthy chatting with about 30 women on Tantan over the last 4 months, we always move over to WeChat and then in a few days or weeks the talk turns to using MT4, making money, bitcoin, gold investment etc etc etc
Has anybody else experienced this?
I have not lost a dime, but am flabbergasted that so many accounts could be scammers.
Or, is it just really common for women aged 30-45 in China to be doing financial trading on the side and always making heaps of money?
would love to hear any experience you may have.

Happy Tuesday, Barkada --

The PSE gained 68 points to 6355 ▲1.1%

Thanks to Spyfrat's Call for the meme appreciation, and to Jing for the trauma bonding over our unmet DDMPR expectations.
There is a lot of reading for me to do on the quarterly earnings reports, and I will definitely be taking a deeper dive on a few stocks (like MONDE) over the coming days. Let me know if there are any stocks that you'd like to see covered and I'll see what I can do!
Shout-outs to rethon-ji, John, Stephen Chiong, Makisig Tan, Pao, Jonathan Burac, Just’n, LanAustria, CubicTrade, Palaboy Trader, mArQo, arkitrader, Lance Nazal, Grumpy Trader, Chip Sillesa, Dividend Pinoy | PGG, Rolex Jodieres, leaf, and Jing for the retweets, and to Padilla GJ, Genesis Umali, Evolves.co and Mike Ting for the FB shares!

▌In today's MB:

• DITO forex losses climb to ₱6-B in Q3
• PSE: Twenty companies seeking Q3 reporting deadline extension
• MREIT declares slightly lower Q3 div
• Phoenix Petroleum Q3 profit ▼1,051% y/y

▌Daily meme | Subscribe (it's free) | Today's email

▌Main stories covered:

• [Q3] DITO forex losses climb to ₱6-B in Q3... DITO CME [DITO 2.81 ▼2.09%] [link] reported Q3 profit down 88% y/y, and down 28% q/q, to a net loss of ₱11 billion. DITO’s 9M profit is down 174% y/y to a net loss of ₱26 billion, driven largely by the degrading value of the Philippine Peso relative to the US Dollar, and the unrealized foreign exchange losses that DITO has accumulated on its huge outstanding dollar-denominated debts. DITO noted ₱2.9 billion in unrealized forex losses in Q1, ₱4.4 billion in Q2, and now another ₱6 billion in Q3, for a total of ₱13.3 billion since the start of the year. DITO said that it had 13.1 million subscribers at the end of Q3 (up 36% from Q2), and that they generated an average revenue per user (ARPU) of ₱77.3 per month. The ARPU figure is down 4.6% from DITO’s H1/22 ARPU of ₱81/month. DITO’s current ratio (current assets / current liabilities) at the end of Q3 was 0.02. For reference, DITO’s competitors, Globe [GLO 2212.00 ▼3.83%] and SMART [TEL 1544.00 ▲0.92%] have current ratios that bounce between 0.33 and 0.45.
  
  • MB: In the management discussion and analysis section of the financial statements, DITO’s management says that “despite its reported capital deficiency, management is confident that [DITO] can continue as a going concern as management believes that [DITO’s] ability to continue as a going concern is dependent upon its ability to generate sufficient cash flows to meet its maturing obligations.” It’s kind of a weird wording. Maybe I’m being too picky, but it feels like DITO’s management is not explicitly stating that they believe they will generate enough cash flow to meet maturing obligations, only that they believe that DITO’s ability to avoid bankruptcy will depend on its ability to do that. It’s true that their subscriber count is growing quite quickly, but the amount of revenue that they’re getting from each of those subscribers is low and going lower over time. Sure, GLO’s ARPU was only about ₱80/month for 88 million subscribers, and TEL’s ARPU was about ₱106/month for 68 million subscribers. And those are fully mature businesses that have already built out their initial networks. The point is that it’s not like DITO just has to survive for a few more years before it passes through some magical barrier where costs fall dramatically and profits start to skyrocket. Once the initial build-out is done, it’s still going to need to have a significant yearly budget for capex to keep pace and keep growing. It’s low-cost strategy is going to keep its ARPU low, which will suppress revenues. That debt isn’t going anywhere. And while Udenna and China have “committed” to infuse additional capital into Dito Tel, Dennis Uy’s companies are bleeding out the ears, so it’s not like there’s a cash cow in the group that can serve as a gold farm for Udenna’s portion of that commitment.
• [Q3] Twenty companies now seeking a Q3 earnings report deadline extension... The list of companies that are seeking deadline extensions from the PSE exploded in size yesterday, as the PSE’s deadline for submission of Q3 earnings reports came and went. There are now 20 companies that are unable to comply with the PSE’s reporting requirements, up from just eight the day before. COL Financial [COL 3.17 unch] (still consolidating) and CTS Global [CTS 0.86 ▼1.15%] (more time to finalize and get approvals) started the request fest last week, followed by National Reinsurance [NRCP 0.64 ▼1.54%] (still reviewing and finalizing), LBC Express [LBC 16.10 unch] (still reviewing data), TKC Metals [T 0.51 ▼1.92%] (still finalizing financial statements), STI Education [STI 0.32 ▼1.54%] (skeleton administrative crews hit by dengue and COVID outbreaks), Benguet Corp [BC 4.05 ▼3.57%] (still writing management’s discussion section), and Haus Talk [HTI 0.83 ▼2.35%] (still finalization and consolidating). Then, yesterday, we saw applications filed by SOCResources [SOC 0.47 unch] (still finalizing), ATN Holdings [ATN 0.36 unch] (accounting department needs time), Cirtek [TECH 2.46 ▲0.41%] (still reviewing data), Vantage Equities [V 0.73 unch] (finalizing data and getting signatures), Manila Bulletin [MB 0.39 ▲4.00%] (still reviewing data and getting signatures), Alsons Consolidated [ACR 0.79 ▲1.28%] (still finalizing and getting approvals), Transpacific Broadband Group [T 0.51 ▼1.92%]BGI (accountant needs more time), Central Azucarera de Tarlac [CAT 9.50 unch] (still reviewing data), Steniel Manufacturing [STN suspended] (needs more time), AgriNurture [ANI 7.69 ▼0.26%] (still reviewing data), Greenergy [GREEN 1.63 ▼0.61%] (still reviewing data), and Manila Mining [MA 0.01 unch] (communication problems with Surigao del Norte). All of the companies committed to submitting proper financial reports on or before November 21.
  
  • MB: Delays happen because life is unpredictable and chaotic, and any accountant (or person married to an accountant) will tell you that preparation and consolidation of financial statements is something that is difficult to rush. You can’t just wander down into the harshly-lit, under-decorated accounting department and say things like “WORK HARDER!” There is only so much time you can make up with additional overtime hours or temp workers. So, on some level, I am understanding when things come up and conspire to make for a delay. As a default though, as an investor, I start by looking at a request for an extension as a failure of process. A failure to schedule the resources needed to do the things that you need to do, in the timeframe that you need to do them. Sometimes a delay is because there’s been a huge transaction (like an acquisition or sale) close to the reporting deadline, but that kind of event is usually pretty obvious and is something that we all know can’t be solved by “process” alone. That said, the vast majority of the “reasons” given to justify an extension here boil down to some tautological version of “we need more time to finish the reports because the reports aren’t finished yet.” Only STI seemed to provide a detailed outline of the circumstances that conspired to cause its delay, in such a way that could allow an investor to gain comfort that the management team seems to understand the problem well enough to prevent it from happening in the future.
• [NOTES] Quick takes from around the market...
  
  • MREIT [MREIT 11.90 ▼0.50%] [link] MREIT declared a Q3/22 dividend of ₱0.2444, payable on December 15 to shareholders of record as of November 25. The dividend has an annualized yield of 8.22% based on the previous closing price, which is -0.97% smaller than Q3's pre-dividend annualized yield of 8.3%. Relative to MREIT's IPO price, the dividend increased MREIT's total stock and dividend return to -18.55%, up from its pre-dividend total return of -20.06%.
    • MB Quick Take: C-c-c-combo breaker! While it’s only a slight step back, the lower div breaks MREIT’s streak of dividend increases that started back in Q1 of this year. MREIT’s net income was down almost 7% q/q, and shareholders still aren’t getting the benefit of the dividend-increasing property-for-share swap that MREIT and Megaworld [MEG 2.12 ▲2.91%] negotiated in April; the transaction is on-hold, awaiting approval from the SEC.
  • Phoenix Petroleum [PNX 8.49 unch] [link] Q3 profit ▼1051% y/y (▼761% q/q) to a net loss of ₱0.95 billion. 9M profit ▼734% y/y to net loss of ₱1.1 billion. PNX said that its liquified natural gas trading business was the “bright spot” in its portfolio, increasing 11% q/q with strong demand in both Viet Nam and the Philippines. Otherwise, PNX said that the “exceedingly challenging macroeconomic backdrop” of volatile oil markets, inflation, peso weakness, higher interest rates, and lower demand, caused its domestic fuel volume to “sharply drop” (-44%) and its overseas trading desk to “take a breather” (-35%).
    • MB Quick Take: PNX is just a gasoline reseller, so it lives and dies by demand for gas and its ability to monetize access to that gas. Unfortunately for PNX, the price of gas increased dramatically during the year, and demand for that gas has dropped off a cliff. That’s a terrible combination for a business that relies on volume and site visits to keep revenues cycling and keep stations profitable. Sentiment seems to be that oil prices are headed for $100/barrel again soon, and that “upside” risk is growing, so it doesn’t look like this part of the equation will turn in PNX’s favor any time soon.

MB is written and distributed every trading day. The newsletter is 100% free and I never upsell you to some "iNnEr cIrClE" of paid-membership perks. Everyone gets the same! Join the barkada by signing up for the newsletter, or follow me on Twitter. You can also read my daily Morning Halo-halo content on Philstar.com in the Stock Commentary section, and in the Saturday edition of the Daily Manila Shimbun.

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I dont defend this douche guy, he deserve it for being an @sshole.
Tapi ada yang punya kronologi jelasnya dia sebenarnya ngapain sebagai affliator binomo? Gua cari di berita isinya di luar konteks dan isinya "diduga" dan ga jelasin kronologi urutannya sampe urusan pacarnya segala.
Ada yang bilang dia sebagai affliator meraup uang loss pemainnya. Gua ga ngerti soal app binomo tapi apa itu hasil loss bisa connect ke "kantong" dia? Apa dia jadi agen perantara ketiga macam judi bola?
Does binomo even legal? I mean its legal in India. Dan konsepnya nyambung ke forex kan?
Gua cuman pengen tahu aja ginian, bahkan telegram grup mayoritas kalangan "investor" begitu kan disangka tempat chat teroris dulu kan dan terus disuruh uninstall. I have trust issues because massive of propraganda we are facing rn.

Happy Thursday, Barkada --

The PSE lost 47 points to 6242 ▼0.8%

Thank you to FinanceForever and tanitsuj for implying that my "fictional family", from yesterday's write-up about the PSE's weird rules for IPOs by way of introduction, was actually autobiographical. I'll say this: while I can chug syrup, that skill was not learned at the family dinner table. Read into that what you will. Haha.
Shout-outs to Stephen Chiong, Pao, Jonathan Burac, MikMabagsik, Rolex Jodieres, Palaboy Trader, Just’n, Singapore Airlines Boarding Music 2021 is, Makisig Tan, Spyfrat's Call, LanAustria, Jose Mateo, psestocktipsdaily, Lance Nazal, arkitrader, Evolves Capital, Inc., Dividend Pinoy | PGG, Chip Sillesa, and Jing for the retweets, and to Dale Pacheco, Evolves.co, and Mike Ting for the FB shares!

▌In today's MB:

• Jollibee rides record Q3 sales to deliver massive Q3 profit
• LFM Properties IPO was absolute insanity
• RL Commercial REIT declares stable dividend
• Citicore Energy REIT Q3 dividend keeps pace

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▌Main stories covered:

• [Q3] Jollibee rides record Q3 sales to deliver massive Q3 profit... Jollibee [JFC 233.00 ▲1.92%] [link] delivered a Q3 profit of ₱2.3 billion, up 70% from its Q3/21 profit of ₱1.3 billion, driven by ₱77.7 billion in Q3 system-wide sales (a JFC record). 9M profit was at ₱7.2 billion, up 168% y/y from ₱2.7 billion, JFC said that its strong Q3 and 9M performances are due to a variety of factors working together, but the largest being the easing of movement restrictions in the Philippines. This allowed PH-based JFC stores to experience a 48.5% same-store sales growth in Q3 y/y, which pulled JFC’s total worldwide same-store sales growth up to 30.9%. Other factors that contributed to the success were the price increases that JFC imposed in Q4/21, continued global expansion, new acquisitions (like Milksha), and beneficial forex conversions for income earned overseas. JFC said that it increased its total worldwide store count by 6% to 6,351 in the first 9M of 2022. The only concerning statistic came out of China, where JFC same-store sales were down 4.6% y/y due to the reimposition of movement restrictions meant to slow the spread of COVID-19.
  
  • MB: The bee has been busy. Remember the days when JFC would need to extract the Coffee Bean & Tea Leaf (CBTL) acquisition from its financials? Not anymore. CBTL, along with Highlands and Milksha, account for 30% of JFC’s store network and 15% of its total system-wide sales. CBTL was even a stabilizing force through the punishing and confusing lockdowns that we went through that kept earnings from PH-based locations suppressed. Now, the patience that JFC has been pleading for is paying off. The thing I’m most curious about, though, is how JFC’s business has changed since COVID. Did the industry flip to 20% dine-in and 80% dine-out as McDonalds’ and JFC had predicted back in 2020, or are we getting back to something that looks more like the glory days of stuffing as many people as possible into each location? There was so much talk a couple years ago about how the quick-service industry would need to change to survive the “new normal” (cloud kitchens, 3rd party delivery apps, dine-out dominance), but are these recovery numbers coming from the old way of doing business, the new way, or a blend of the two? I’d love to see some segmented analysis.
• [NEWS] LFM Properties IPO was absolute insanity... The Liberty Mills Flour [LFM 17.78 ▼1.22%] spin-off, LFM Properties [LPC 0.205 ▲91.6%], opened for trading yesterday morning with the first trades coming through at ₱0.398/share. That’s already a 272% increase over the valuation and fairness opinion price that LPC received from KPMG of ₱0.107/share. Six minutes later, by 9:36, the price had jumped up over 600% from that opinion price to ₱0.75/share with a little over half a million shares trading hands around this price. At that price, LPC had a marketcap of ₱18.75 billion. Keep in mind, LPC’s marketcap coming into the day was just ₱2.67 billion, and the marketcap of its parent company, LFM, which owns 58.6% of LPC, was just ₱2.7 billion. LPC was now (technically) worth 6.9 times its parent company. Nice and normal. By 9:39, the price had dropped all the way back to ₱0.39/share, which is a 48% drop over three minutes, but still a 270% gain relative to that opinion price. By 9:54, the price was down to ₱0.30/share, which was down 60% from that early peak, but still up 180% on the day. At 10:00, the price reached ₱0.20/share (up 87%). It bounced back up to ₱0.25/share (+133%) just before lunch, but kind of faded through the day back down to ₱0.205 where it closed, down 73% from the 9:39 AM peak, but up 91.6% on the day.
  
  • MB: As predicted, this IPO was a joke, just like the last listing by way of introduction. The PSE says that it removes the daily price increase and decrease thresholds in order to allow “market forces to determine the price of the securities.” Those thresholds would have capped LPC’s potential gains on the day at 50%, just like every other stock, and even every other IPO. What, exactly, did market forces “discover” about LPC’s price? Well, all we know so far is that it’s probably not ₱0.75/share. Sweet. What else did the market forces tell us, though? For one thing, they told us that the regular price thresholds, while imperfect, actually perform a very useful function; the 50% gain cap prevents FOMO from infecting investors and discourages euphoric speculation and obvious price bubbles. This is the kind of trading that I associate with shitcoins on dank crypto exchanges with no fixed address and website text that looks like it was written with a heavy reliance on Google Translate. This is the kind of trading that reeks of bored equity traders just trying to have some fun on the side. I think that there’s a time and place for that kind of fun, but why the PSE thinks that it’s a good idea to encourage price bubbles that leave hundreds or thousands of investors hopelessly underwater is beyond me. Why not slap those caps on this kind of listing? If it’s ok for “market forces” to determine the price of every other thing on the PSE within that -30% to +50% band, even other IPOs, then why couldn’t it work for this type of listing in the same way? The PSE: “Just drink your syrup.”
• [NEWS] RL Commercial REIT declares stable dividend... RL Commercial REIT [RCR 5.09 ▲0.79%] [link] declared a Q3/22 dividend of ₱0.0974, payable on November 29 to shareholders of record as of November 22. The dividend has an annualized yield of 7.65% based on the previous closing price, which is 0.21% larger than Q3's pre-dividend annualized yield of 7.64%. Relative to RCR's IPO price, the dividend increased RCR's total stock and dividend return to -14.18%, up from its pre-dividend total return of -15.69%. This is RCR’s 4th consecutive quarter of dividend growth.
  
  • MB: A stable return from the Gokongwei Family’s commercial leasing REIT. While RCR IPO buyers have never known what it feels like to receive anything other than a larger dividend than what has come before, it’s clear that the rate of that growth is not what it used to be. The first jump was 48%, the second jump was 4.8%, the third jump was 0.7%, and this most recent increase was just 0.2%. Hey, don’t get me wrong: growth is growth. I’d rather own RCR than a REIT that suddenly halves its dividend without justification or reason. The Gokongwei Family is steady and stable in the REIT game.
• [NEWS] Citicore Energy REIT Q3 dividend keeps pace... Citicore Energy REIT [CREIT 2.09 ▼0.95%] [link] declared a Q3/22 dividend of ₱0.044, payable on January 5 to shareholders of record as of December 9. The dividend has an annualized yield of 8.42% based on the previous closing price, which is in-line with the annualized yield CREIT had prior to the declaration. Relative to CREIT's IPO price, the dividend increased CREIT's total stock and dividend return to -11.49%, up from its pre-dividend total return of -13.22%.
  
  • MB: I’ve been talking for months about how, compared to its other REIT siblings, CREIT is completely insulated from the vulgar ups and downs of the Metro Manila commercial lease market. Will the administration outlaw POGOs? CREIT doesn’t care. Will work-from-home laws change, and how will this impact the demand for office space? Again, CREIT doesn’t care. All of its income comes from leasing land to solar power plants, on long-term leases. The only variable for CREIT is in the size of the special dividend at the end of the year that gives investors a little upside in the form of a small slice of the actual electricity sale profits. None of the commercial REITs provide any kind of profit-sharing mechanism. I’m not saying that CREIT is the superior investment; there are many reasons why you might select another REIT for the long-term, depending on the assumptions that you’ve made about Metro Manila’s growth and the projected growth of the leasing market going forward. I’m just trying to draw out some of the interesting differences between CREIT and the rest of the market that give fixed-income investors another angle to work with.

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BEST PRICE ON THE MARKET! - Value $12,997
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Gak bisa dipungkiri sepanjang tahun 2020-2021 banyak orang memulai investasinya karena influence sosial media. Beruntung bagi yang memulai investasinya lebih awal dan agak celaka bagi yang mulai investasinya di akhir-akhir tanpa tau konsekuensinya. Banyak kasus orang beli saham pake pinjol. Beli BTC, Altcoin pake utangan, uang arisan, bahkan sumbangan gereja.
my advice for you yang kena FOMO:
Miner musiman: Ketika crypto turun drastis di Januari-Februari 2022. Segera jual alat miningmu karena kamu harus menunggu 2024 untuk bisa panen. Karena ketika kamu beli mining rig sekarang harganya sudah naik berkali-kali lipat dari harga wajarnya. Perhitungkan kembali listrik yang harus kamu keluarkan, Gak BEP istilahnya. Contoh nyata Founder Rekeningku yang boncos bertahun-tahun karena nutupin biaya listrik dan beli mining rig kemahalan, baru panen akhir2 ini.
​
Robot trading: Royal Q , Forex dll. Robot trading is scam, jauhi sekarang sebelum terlambat. Janji manis seller Royal Q dan robot forex profit konisten itu gak ada buktinya 100% scam. Kisah nyata banyak yg bunuh diri karena tiba-tiba assetnya hilang diaveraging oleh robot. Jangan sampai kamu jadi korbannya
​
Trader Binomo, Binary option: Kamu yang baru memulai binary option, inilah saatnya dirimu keluar dari sistem jahat Judi 2.0 mungkin diawal kamu akan merasakan profit namun lama kelamaan akan susah dan tiba-tiba akun tersuspen tanpa sebab. Jelakanya gak ada yg bisa jamin akunmu balik karena Binomo dan lainnya jelas ilegal di Indonesia sehingga penyedia layanan tidak diketahui siapa.
​
Trader Saham musiman via signal telegram : Saham ada bull market dan bearish market, lengkapi dirimu dengan FA dan TA tambah bandarmology juga. Investing stock is about your move, bukan orang lain. Jadi pastikan semua keputusan investasi kamu yang buat bukan orang lain.
​
Trader Crypto: Bear market is coming, we need to understand what crypto still alive for next 4 Years(next halving) DCA still the best strategy for you. We will face the second Bull Run but dont fall for it to much, cause second bull run means next winter season.
​
note: I hope yall getting more profit and healthy. May the Force be with you

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Happy Wednesday, Barkada --

The PSE gained 113 points (!!) to 6851 ▲1.7%

Good work! Over 200 Barkadans clicked on the PSE STAR registration link yesterday. There's another full day of presentations (schedule below), so I am literally begging you to take the time to check it out. You don't have to commit to the whole day. Just watch part of one!
Click here to register!
Here's the schedule of events for today: BNCOM: 10:25 AM DNL: 11:15 AM PIZZA: 1:30 PM CREIT: 2:15 PM MREIT: 3:10 PM
*** PROGRAMMING NOTE *** I'm going on vacation tomorrow. I'm still going to be in the markets, I just won't be researching, writing, and producing MB each morning before my family wakes up. :) I'm still reachable by Twitter, Reddit, Facebook, and email if you have any questions, comments, concerns, or business inquiries!
See you at 8 AM on September 1!
Congrats to LanAustria (@airtsua_lan) for winning the P1,000 Grab Food voucher draw! Thank you to all the 55 Barkadans that retweeted and shared to enter!
Shout-outs to Eddie V. Tangonan, Jon Bal, Monreg#1977, Jonathan Burac, LanAustria, mike, Inhinyerong Trader, Jr Martin, BokLamayan, Just’n, Palestinian_Sonic, Stephen Chiong, Jay Agonoy, Zhar, Bien EC, Pao, BonitZ, A J M Ching, Makisig Tan, kalelManila.eth, Palaboy Trader, JH, Alex Axle, Alex Suthisarn, Alex, Lance Nazal, Palaboy Trader, Dividend Pinoy | PGG, Corgi Buttowski, Chip Sillesa, arkitrader, leaf, meloi, Marvin Mercado,and Jing for the retweets, and to Catherine Buhat, Marvin Quezon, Padilla GJ, Marvin Rodriguez Gonzaga, Marc Carlson Yee Buhat, Lian Santos, Evolves.co, and Mike Ting for the FB shares!

▌In today's MB:

• DITO CME lost ₱7.3 billion on forex in H1
• VistaREIT Q2 div is actually a blended special/regular dividend
• JG Summit’s Q2 profit didn’t drop 95%... it went up 335%!
• PLUS: Quick takes on CTS, COL, and ALLDY

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▌Today's sponsor: Balai Ni Fruitas

▌Top 3 MB indices:

 Crony ▲2.86% REITs ▲1.77% Logistics ▲1.65% 

▌Bottom 3 MB indices:

 Hedgy Metal ▼0.49% Power Gen. ▼0.03% Connectivity ▲0.02% 

▌Main stories covered:

• [Q2] DITO CME lost ₱7.3 billion on forex in H1... DITO CME [DITO 3.76 ▼0.53%] [link] posted a Q2/22 net loss of ₱8.6 billion, down 292% from its Q2/21 net loss of ₱2.2 billion, and down 9% from its Q1/22 net loss of ₱7.9 billion. DITO is the parent company of Dito Tel, but the 3rd telco’s financials were not officially incorporated into DITO’s financial statements until the share-swap was executed in H2 of 2021. Prior to Dito Tel’s inclusion, DITO’s financials were basically the interest that the company made off of extending loans to Dennis Uy’s other companies, like Udenna Corp and Chelsea [C 1.18 unch], while waiting for the share-swap to complete. The result is that year-on-year comparisons of the Q2 and H1 data are basically useless. Of course DITO will show a 957% uptick in H1 revenue; it didn’t really earn anything in H1/21. Of course DITO will show massive upticks in H1 expenses; it didn’t really do anything in H1/21. This means that we need to be looking at quarter-on-quarter data to derive anything interesting about Dito Tel. On a q/q basis, DITO’s ₱8.6 billion net loss is only 9% worse than the ₱7.9 billion loss it posted in Q1. Comparing DITO’s Q1 report to its Q2 report, total revenues are up 27% to ₱1.7 billion, but DITO’s operating loss widened by 0.35% to ₱3.4 billion. General expenses were up 3% to ₱2.9 billion. Interest expense was up 34% to ₱0.8 billion. DITO also revealed that it incurred ₱7.3 billion in unrealized foreign exchange losses in H1, as the value of the Philippine Peso (the currency its customers use to pay for its services) dropped dramatically as compared to the US Dollar and the Chinese Yuan. As of the end of H1, DITO has US $1.16 billion in interest-bearing loans that, at current exchange rates, represent ₱63.9 billion in liabilities. The exact same loan, measured at the end of 2021, represented “only” ₱59.0 billion in liabilities. That’s a net difference of ₱4.9 billion in just 6 months.
  
  • MB: Those forex losses are startling. When DITO says that the losses are “unrealized”, what it means is that they expect to lose that amount (as of the current exchange rates) as DITO makes its payments on its outstanding debt. The losses will be “realized” when the payments are made, and the foreign exchange difference is felt. It also means that the underlying exchange rates could continue to change to help DITO, or to hurt it even worse. Outside of that unsolved forex problem, Dito Tel’s operating losses are still growing, despite throwing a ton of new subscribers onto its network. While the headline will be distractingly bad, there are two things I liked from an administrative perspective. First, DITO actually referred to Dito Tel as “the Company’s largest investment” in the first paragraph of its Management Discussion section (the only change in the paragraph from Q1). Second, DITO revealed that its average revenue per unit (ARPU) for H1 was ₱81. ARPU is a basic telecommunications metric that measures the profitability of a company’s users, and this was the first time that DITO has publicly used this metric in its earnings reports. Is this a good result for DITO? No, but operations are not as bad as the headline losses could make you think. I mean, they’re not good. And DITO still has a massive amount of forex exposure risk, but the operating loss basically flatlined while going from 5 million subscribers at the start of Q1 to 9.6 million at the end of Q2. In a sea of red, that’s something to work with.
• [UPDATE] VistaREIT dividend was a combination of a special and regular Q2 dividend... The VistaREIT [VREIT 1.74 ▼0.57%] Investor Relations department confirmed to me that the VREIT Q2 div was actually a combination of a special dividend (₱112 million) from income generated from May 1 through June 14, and a regular dividend (₱45,100,616) from income generated in the final half of June, from June 15 through to VREIT’s listing on June 30. The IR department also updated VREIT’s occupancy rate to 97% (up from 91%), and its WALE to 4.1 years (down from 5.1 years).
  
  • MB: Thanks to the VREIT IR department for their quick response, and for wishing me good “VHealth”. Haha. Let’s forget about the “special” part of this dividend for a second, and just focus on the “regular” component to see how VREIT’s first dividend compares to its REIT Plan guidance of an 8.25% yield (based on the IPO offer price of ₱1.75/share). If the regular dividend represents (roughly) what shareholders get from half of a month’s distributable income (~₱0.006/share), then we could annualize this amount by multiplying it by 24 (the number of half-months in a year) to get a full-year dividend of ₱0.1443/share, which, at VREIT’s IPO price, represents an estimate annual yield of 8.24%, right in-line with VREIT’s guidance.
• [CORRECTION] JG Summit’s Q2 net income didn’t drop 95%... it went up 335%!... Yesterday, my headline reported that JG Summit [JGS 55.60 ▲1.00%] [link] had delivered a Q2 net income of only ₱44 million, which I said was a 95% drop from its Q2/21 net income of ₱815 million. That’s not even close to correct. My script took the “net income attributable” line from JGS’s 17Q earnings report instead of the “net income after taxes” line, and in a rush, I wasn’t critical enough of that to spot the mistake. My breakdown of the individual business units is still accurate, as is (I believe) my analysis of how exposed JGS is to inflation and the second-order effects of it, but my headline and the summary numbers about the quarter were just completely off. I called JGS’s quarter a “dog’s breakfast”, but maybe the real dog’s breakfast was my write-up, and JGS’s quarterly report was just more or less “fine”, but with several worrying points of vulnerability to continued inflationary pressures.
  
  • MB: I apologize to you all for my error. Thank you to Dom for sending me a message to ask some questions about my data. That got the process of discovery started. Some days, I feel like a guy surrounded by hundreds of scripts in various states of disrepair, but for some reason on this day I decided to just John Daly the results of my scripts (just “grip it and rip it”) without taking a closer look. Seems like my upcoming break will be the perfect opportunity for me to take a deep dive into my own Google Sheets logic and Python code. Don't feel bad for me, I love it so much. But sometimes I let myself live with ""mostly working"" code for too long, and this error tells me that I need to make a few improvements!
• [NOTES] Quick takes from around the market...
  
  • CTS Global [CTS 1.09 unch] [link] H1 net income up 74% y/y on unrealized foreign exchange gains. CTS said that its H1 global trading revenue fell 53% y/y to ₱28.3 million, and that its local trading revenue fell 46% to ₱20.2 million, for a combined drop of 41% y/y. While trading revenues are down, CTS noted that it had an unrealized foreign exchange gain of ₱44.2 million in H1 that saved its weak trading performance by boosting net income significantly. MB: I don’t think that any of CTS’s IPO investors were clicking “BUY” with the thought of sweet unrealized foreign exchange gains and income from low-risk government debt instruments dancing through their heads, but here we are. Remove the ₱44.9 million in foreign exchange gains from H1/22 and the ₱3.8 million in foreign exchange gains from H1/21, and the picture looks dramatically different: H1/22 core net income of ₱5 million, down 80% from its H1/21 core net income of ₱24.9 million. That’s abysmal. It’s even worse if we isolate for Q2: core net loss of ₱6.6 million, down 8,150% from its Q2/21 core net loss of ₱0.08 million.
  • COL Financial [COL 3.51 unch] [link] Q2 profit ▼57% y/y, ▼46% q/q, to ₱49 million, with 1H profit ▼71% y/y to ₱140 million. COL blamed the huge drop in profitability on a “significant drop in commission revenues”, and the lack of non-recurring revenue from the sale of financial assets in H1/22. COL saw an 8% increase in the number of new customer accounts, bringing its total to ~507,000, but noted a 9% drop in net customer equity to ₱102 billion. COL also noted that the PSE itself was down 13.6% during H1, and that the average daily turnover fell 16.6% y/y to ₱7.5 billion. MB: The previous year, COL’s H1 account growth was 23% y/y, and its net customer equity growth was 53% y/y. This year’s numbers are tiny in comparison. While overall market sentiment is important to COL's possible earnings, I don’t agree with COL trying to make some kind of “high bar effect” argument about the impact of its sale of financial assets in H1/21 somehow making its H1/22 look that much worse. The revenue COL recognized in H1/21 on the sale of those assets was just ₱55 million, which was just 6.7% of its total H1 revenue that year. Take those sales out, and COL still made ₱424 million in profit in H1/21, and its H1/22 performance is still 67% lower. If I were a COL shareholder, I’d be wondering why the company hasn’t done more to appeal to the masses that flocked to its system during the crypto frenzy and basurapalooza of late 2020 and early 2021.
  • AllDay Marts [ALLDY 0.35 ▼4.05%] [link] Q2 profit ▼19% y/y, ▲215% q/q, to ₱87 million, with 1H profit ▼94% y/y to ₱11 million, largely due to ₱170 million in losses related to the Alabang fire in January. Operationally, ALLDY noted a marginal 2.2% y/y improvement in H1 sales, but that was considerably less than the 20% y/y sales increase it noted last year. Finance costs were lowered 70% to ₱10 million due to “loan settlements” made using proceeds of ALLDY’s 2021 IPO. MB: Forget for a second that the fire never happened. I don’t know if I’m able to patch up the lost sales and opportunity cost of the ₱170 million spent on dealing with the lost inventory and damage to the property, but just dump that ₱170 back into the Q2 and H1 financials; nothing happens to Q2 (the fire was in Q1), but the H1 results actually improve so much, from down 94% to up 1% y/y. Yes, Q2 is still a “thing”; if we put the ₱170 million back into Q1, that puts the net income there up to around ₱95 million, and that leaves Q2 down 19% y/y and down 8% q/q. Not the best trend for a consumer-facing business in the midst of a consumer-facing business recovery, where the stock price is down 40% from its IPO price and down 25% since the start of Q2.

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