By rVOTtwRRfe STATE OF THE MARKETS
Dollar stalled as stocks rebound. As US stocks rebounded on Tuesday, the Dollar index was stalled around the 96.50 minor handle for the past three days. Dow (+1.60%), Nasdaq (+2.40%), S&P (+1.78%) and Russell (+2.95%) snapped earlier losses as demand for bonds eased, sending yields higher, with the 10Y benchmark shoots back to 150 basis points before settled 5bp lower to 1.45% as New York closed.
In the commodities market, crude rebounded higher to $71.20/bl as bidders continue to see higher demand in the year ahead despite Omicron concerns. Gold was under pressure as investors looked for yields, while the non-yielding asset continued to receive strong bids around the $1,780/oz barrier. Elsewhere, iron ore is stalled at $113.70/tn as investors wait for the vote on BBB.
In the FX space, short and medium term traders bid on the oversold high beta currencies while offering the negative yielding safe-haven Swiss and Yen. Long term sentiments were unchanged. On Wednesday, markets look for earnings reports from Paychex (PAYX), Cintas (CTAS), Carmax (KMX), and MSC Industrial (MSM) as well as the latest US GDP estimates, consumer confidence and home sales. Oil traders look forward to reading the reports on EIA petroleum status.
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G8 CURRENCIES SENTIMENTS
| ST | NZD | AUD | GBP | CAD | USD | EUR | CHF | JPY | ST |
| MT | AUD | GBP | NZD | USD | EUR | CHF | JPY | CAD | MT |
| LT | JPY | USD | CHF | GBP | EUR | AUD | CAD | NZD | 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 | 6.34 | – 6.76 | 159,352.4K | 123,182.5K |
| BFRI | 11.03 | + 44.75 | 104,667.9K | 22,302.9K |
| AAPL | 172.99 | + 1.91 | 91,125.9K | 87,181.1K |
| JAGX | 1.38 | + 20.00 | 88,414.2K | 1,785.2K |
| PTPI | 4.09 | + 20.29 | 76,020.7K | 11,098.4K |
| RELI | 5.45 | + 78.69 | 75,432.1K | 411.1K |
| NIO | 30.16 | + 7.10 | 73,515.8K | 41,490.9K |
| T | 24.47 | + 1.16 | 72,864.9K | 45,573.5K |
| SPY | 463.06 | + 1.78 | 69,698.6K | 76,566.7K |
| CCL | 20.54 | + 8.68 | 69,142.5K | 35,521.3K |
** % Change here refer to price
WALL ST TOP FLOWS
| TICKER | LAST PRICE |
VOLUME |
% CHANGE | FUNDS FLOW $ |
| TSLA | 938.53 | 23,771.4K | + 0.45 | 22,310.2M |
| AAPL | 172.99 | 91,125.9K | – 25.61 | 15,763.9M |
| NVDA | 290.75 | 52,315.3K | – 4.08 | 15,210.7M |
| AMZN | 3,408.34 | 2,794.6K | – 13.16 | 9,525.0M |
| AMD | 144.25 | 57,693.7K | + 3.46 | 8,322.3M |
| MSFT | 327.29 | 24,724.1K | – 23.29 | 8,092.0M |
| FB | 334.20 | 16,098.8K | – 24.50 | 5,380.2M |
| MU | 90.68 | 58,322.5K | + 175.66 | 5,288.7M |
| GOOGL | 2,869.45 | 1,437.2K | – 9.07 | 4,123.8M |
| PFE | 58.95 | 63,831.6K | + 19.75 | 3,762.9M |
** % change here refers to volume
TOP 5 BLOCK ORDERS
| SYMBOL | PRICE | TYPE | R/VOL | FUNDS FLOW $ |
| BKKT | 9.18 | equities | 26,038K | 69.8M |
| NIO | 30.16 | equities | 17,134K | 2,215.7M |
| ARMK | 35.13 | equities | 6,472K | 93.8M |
| GSK | 43.36 | equities | 9,078K | 190.7M |
| CL | 69.65 – 71.30 | crude oil futures | 550 | 38.8M |
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 (20% undervalued) with dividends yielding 2.98%, COG (CTRA) (16% undervalued) yielding 2.57% and averaged down on T (15% undervalued) at 8.60% yields. CLVS is currently 20% 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 (40% undervalued with 1.28 z-score) and CRON (12% undervalued with 9.18 z-score) while bearish GE (13% 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