By MFM Team STATE OF THE MARKETS
Dollar gained as investors dumped stocks. Dollar index rebounded to as high as the 95.80 barrier after long term investors dumped stocks on profit taking. Dow (-1.51%), Nasdaq (-2.60%), and S&P (-1.84%) including Russell (-3.06%) lost bids after series of heavy selling and some flows to precious metal was noted in silver as the metal surged past $23.60/oz. Flows to bonds were weak as yields of most maturities spiked higher after prices fell on low demand.
In the commodities market, crude climbed higher to settle around $85.80/bl as New York closed, after news hit the wires that UAE oil facilities were attacked and could reduce output. Gold fell to as low as $1,805.68/oz on Dollar strength before bidders jumped in to settle the yellow metal higher around $1,813.38/oz. Elsewhere, iron ore was little changed around $127.80/tn as traders waited for the next catalyst to move the commodity.
In the FX space, short and medium term accounts turned bearish after Yen and Swiss took the helm of demand as Loonie synchronized across all horizons. Lack of flows in bond’s safety today as stocks dropped signifies that investors turned to cash and commodities for protection. On Wednesday, markets look forward to seeing the latest earnings report from United Health (UNH), Procter & Gamble (PG), Bank of America (BAC), ASML Holdings (ASML) and Morgan Stanley (MS) as well as the health of US housing markets. EIA petroleum status will be in the spotlight for energy traders.
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G8 CURRENCIES SENTIMENTS
| ST | JPY | CAD | USD | CHF | NZD | GBP | AUD | EUR | ST |
| MT | CHF | CAD | JPY | NZD | AUD | GBP | USD | EUR | MT |
| LT | GBP | CAD | CHF | EUR | AUD | USD | NZD | JPY | 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 |
| BBIG | 5.19 | + 27.52 | 287,879.5K | 33,257.2K |
| ATVI | 82.31 | + 25.88 | 120,203.5K | 11,237.9K |
| F | 24.38 | – 3.22 | 110,820.1K | 95,173.1K |
| SPY | 456.49 | – 1.77 | 109,872.4K | 79,334.7K |
| ZNGA | 8.99 | + 0.33 | 93,062.0K | 27,764.3K |
| UVXY | 13.68 | + 11.40 | 92,969.4K | 48,503.1K |
| AAPL | 169.80 | – 1.89 | 91,064.5K | 89,316.1K |
| XLF | 39.92 | – 2.23 | 82,556.6K | 56,671.6K |
| TQQQ | 66.69 | – 7.21 | 78,170.9K | 92,311.1K |
| QQQ | 370.55 | – 2.49 | 75,812.3K | 50,254.1K |
** % Change here refer to price
WALL ST TOP FLOWS
| TICKER | LAST PRICE |
VOLUME |
% CHANGE | FUNDS FLOW $ |
| TSLA | 1,030.51 | 22,289.0K | – 12.47 | 22,969.0M |
| AAPL | 169.80 | 91,064.5K | + 7.43 | 15,462.8M |
| MSFT | 302.65 | 42,360.8K | + 43.16 | 12,820.5M |
| NVDA | 259.03 | 42,455.8K | + 0.01 | 10,997.3M |
| AMZN | 3,178.35 | 3,368.8K | + 22.11 | 10,707.2M |
| ATVI | 82.31 | 120,203.5K | + 578.78 | 9,893.9M |
| AMD | 131.93 | 56,542.4K | – 6.75 | 7,459.6M |
| FB | 318.15 | 22,652.2K | + 34.51 | 7,206.8M |
| JPM | 151.27 | 32,348.4K | + 134.57 | 4,893.3M |
| GOOGL | 2,719.96 | 1,743.8K | + 22.69 | 4,743.1M |
** % change here refers to volume
TOP 5 BLOCK ORDERS
| SYMBOL | PRICE | TYPE | R/VOL | FUNDS FLOW $ |
| MQ | 12.68 | equities | 146.4 | 297.1M |
| RP | 0.8379 | FX futures/EURGBP | 158 | 18.0M |
| 6E | 1.13762 – 1.14100 | FX futures/EURUSD | 5,004 | 569.3M |
| ZF/B – UB | 119.0100 – 186.1600 | US bond futures | 31,169 | 398,437.4M |
| CL | 69.48 – 85.88 | crude oil futures | 4,382 | 367.0M |
OUR PICK – No New 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 2.92%, COG (CTRA) (16% undervalued) yielding 2.29% and averaged down on T (12% undervalued) at 7.62% yields. CLVS is currently 22% overvalued with -8.20 z-score but Tudor Investment had stepped in recently and we decided to hold. We remain bullish with VIPS (47% undervalued with 5.98 z-score), GT (37% undervalued with 1.40 z-score) and CRON (19% undervalued with 9.18 z-score) while bearish GE (16% 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