By MFM Team STATE OF THE MARKETS
Flat Dollar amid rising yields. US stocks jumped higher on Tuesday on a flat Dollar as yields rose for the second day, ahead of the FOMC meeting next week. Improved risk sentiments sent Dow (+1.40%), Nasdaq (+3.03%), and S&P (+2.07%) including Russell (+2.28%) to rally further and bond demand to ease. The 10Y yield rose to 1.46% as a result while Dollar (DXY) was trading flat around the 96.20 mark.
In the commodities market, reports of stable demand and output quota, sent crude higher to $73/bl before settling lower around $72.05 as New York closed. News of rising labor cost and falling productivity led bidders to hold gold firms above the $1,780/oz for the past five days. Iron ore was little changed, flat around the $103.70/tn mark for the second day.
In the FX space, improved risk sentiments in the short and medium term accounts sent the comdolls trio to demand territories while putting Euro and Sterling on offers. Long term sentiments remained mildly bearish. On Wednesday, markets look for earnings reports from UiPath (PATH), Brown-Forman (BFB), GameStop (GME), Campbell Soup (CPB) and RH Group (RH) as well as the latest US jobs opening and housing markets. EIA reports on petroleum status will be in the spotlight for oil traders.
Become a provider, earn commission and invest with MFM’s PAMM and CopyTrades features!
G8 CURRENCIES SENTIMENTS
| ST | CAD | AUD | NZD | USD | GBP | CHF | EUR | JPY | ST |
| MT | CAD | USD | AUD | NZD | JPY | CHF | EUR | GBP | MT |
| LT | JPY | USD | CHF | CAD | EUR | GBP | NZD | AUD | LT |
** ST refers to Short-Term daily turnover, MT is Medium Term weekly
and LT refers to Long-Term monthly turnover.
WALL ST MOST ACTIVE
| TICKER | LAST PRICE |
% CHANGE |
VOLUME | 90 DAYS AVG |
| SQQQ | 6.05 | – 9.16 | 194,807.7K | 109,178.8K |
| SYTA | 4.60 | + 66.67 | 160,397.1K | 2,345.1K |
| ENSC | 3.19 | + 136.30 | 146,680.6K | 1,512.5K |
| AAPL | 171.18 | + 3.54 | 120,089.1K | 78,916.5K |
| XLF | 39.30 | + 1.79 | 115,457.0K | 51,940.0K |
| SPY | 468.28 | + 2.07 | 94,755.3K | 71,217.6K |
| INTC | 52.57 | + 3.10 | 91,681.4K | 25,180.9K |
| F | 19.96 | + 3.85 | 75,407.9K | 78,056.5K |
| TQQQ | 167.44 | + 9.02 | 67,461.1K | 37,231.7K |
| CCL | 18.50 | – 0.48 | 62,660.8K | 33,777.5K |
** % Change here refer to price
WALL ST TOP FLOWS
| TICKER | LAST PRICE |
VOLUME |
% CHANGE | FUNDS FLOW $ |
| AAPL | 171.18 | 120,089.1K | + 23.33 | 20,562.3M |
| TSLA | 1,051.75 | 18,606.9K | – 33.38 | 19,601.5M |
| NVDA | 324.27 | 59,022.3K | + 15.20 | 19,197.8M |
| AMZN | 3,523.29 | 3,314.2K | – 5.98 | 11,685.5M |
| MSFT | 334.92 | 30,885.3K | + 15.65 | 10,379.4M |
| AMD | 144.85 | 53,272.5K | – 12.72 | 7,720.6M |
| FB | 322.81 | 18,690.6K | – 10.01 | 6,062.8M |
| BABA | 125.54 | 38,470.4K | + 41.35 | 4,831.8M |
| INTC | 52.57 | 91,681.4K | + 169.13 | 4,819.8M |
| GOOGL | 2,945.39 | 1,598.1K | + 12.59 | 4,745.0M |
** % change here refers to volume
TOP 5 BLOCK ORDERS
| SYMBOL | PRICE | TYPE | R/VOL | FUNDS FLOW $ |
| TRTN | 59.44 | equities | 1,414K | 21.6M |
| WAL | 110.05 | equities | 1,261K | 145.9M |
| AVAV | 57.98 | equities | 1,235k | 192.7M |
| ZT/F | 109.0150 – 121.0100 | US bonds futures | 22.8K | 268,651.9M |
| CL | 67.22 – 72.70 | crude oil futures | 1.7K | 124.2M |
OUR PICK – No New Stock Picks
No new stock picks as we are at maximum equities exposure. Currently we are holding 8 stocks – 7 longs and 1 short. We are long AUY (21% undervalued) with dividends yielding 3.05%, COG (CTRA) (16% undervalued) yielding 2.55% and averaged down on T (19% undervalued) at 8.93% yields. CLVS is currently 22% overvalued with -7.19 z-score but Tudor Investment had stepped in recently and we decided to hold. We remain bullish with VIPS (47% undervalued with 5.59 z-score), GT (39% undervalued with 1.28 z-score) and CRON (13% undervalued with 9.18 z-score) while bearish GE (15% overvalued with 1.43 z-score).
For high probability stock picks, please use our Trading Central services.
Note: Cabot Oil & Gas (COG) recently merged with Cimarex Energy to form Coterra Energy (CTRA).
| HORIZON | STRATEGY | SL | TP1 | TP2 |
| Short-Term | – | – | – | – |
| Medium-Term | – | – | – | – |
| Long-Term | – | – | – | – |
Risk Disclaimer:
This article is for general information purpose only. It is not an investment advice or a solicitation to buy or sell any securities/oz. Opinions expressed are of the authors and not necessarily of MFM Securities Limited or any of its affiliates, subsidiaries, officers or directors. Leveraged trading is high risk and not suitable for all. You could lose all of your deposited funds.
Abdul H. Jaffar