By MFM Team STATE OF THE MARKETS
Stocks rebound but selling pressure remains. US stocks rebounded and closed higher on Tuesday but remain under selling pressure as long term investors continue to sell on rally. Dow (+0.73%), Nasdaq (+0.76%), and S&P (+0.43%) including Russell (+1.09%) all in the green as demand for bonds fell, sending yields higher across the board. The 2Y climbed to 1.35% while the 5Y to 1.82% as the longer 10Y inched higher to 1.97% and the 30Y to 2.26%. The Dollar (DXY) was little changed at 95.60 mark.
In the commodities market, profit taking sent crude lower to $87.50/bl while inflation concerns continued to press gold higher to $1,828.65/oz before fixed at $1,825.68/oz as New York closed. At the same time, iron ore climbed past $150/tn as China continued to press more demand on the commodity.
In the FX space, the ordeal remains that Euro continues to reign in the medium and long term demands while remaining under offers with Dollar, Swiss and Yen in the short term. Overall sentiments look bullish as Yen and Swiss were sent to the back burner.
On Wednesday, markets look for earnings reports from Disney (DIS), Pepsi (PEP), CVS Health (CVS), CME Group (CME), Uber Tech (UBER), Honda Motor (HMC) and Motorola (MSI) as well as the US mortgage index. The EIA petroleum status report will be in the spotlight for energy traders.
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G8 CURRENCIES SENTIMENTS
| ST | AUD | NZD | GBP | CAD | USD | CHF | EUR | JPY | ST |
| MT | EUR | AUD | NZD | GBP | USD | CHF | CAD | JPY | MT |
| LT | EUR | GBP | USD | JPY | CAD | CHF | AUD | 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 |
| PTON | 37.27 | + 25.28 | 245,420.8K | 19,973.1K |
| F | 17.72 | – 0.95 | 142,509.0K | 104,459.3K |
| FB | 220.18 | – 2.10 | 94,518.6K | 26,158.5K |
| VLDR | 4.04 | + 7.16 | 87,946.9K | 3,598.3K |
| SNAP | 37.58 | – 0.84 | 85,571.6K | 28,368.5K |
| AMD | 128.23 | + 3.69 | 84,772.0K | 63,889.3K |
| SPY | 450.94 | + 0.82 | 80,920.7K | 88,446.0K |
| TQQQ | 59.32 | + 3.40 | 79,053.7K | 101,320.1K |
| AAPL | 174.83 | + 1.85 | 74,747.2K | 92,448.2K |
| SOPA | 4.68 | + 42.68 | 70,263.8K | 8,367.8K |
** % Change here refer to price
WALL ST TOP FLOWS
| TICKER | LAST PRICE |
VOLUME |
% CHANGE | FUNDS FLOW $ |
| FB | 220.18 | 94,518.6K | + 123.53 | 20,811.1M |
| TSLA | 922.00 | 16,871.2K | – 42.82 | 15,555.2M |
| AAPL | 174.83 | 74,747.2K | – 25.82 | 13,068.1M |
| AMZN | 3,228.27 | 3,796.2K | – 21.90 | 12,255.2M |
| AMD | 128.23 | 84,772.0K | – 10.04 | 10,870.3M |
| NVDA | 251.08 | 40,899.3K | – 21.51 | 10,269.0M |
| MSFT | 304.56 | 32,376.5K | – 31.62 | 9,860.6M |
| PTON | 37.27 | 245,410.4K | + 421.24 | 9,146.4M |
| GOOGL | 2,787.98 | 2,710.2K | + 11.22 | 7,556.0M |
| GOOG | 2,784.26 | 1,711.3K | – 10.08 | 4,764.7M |
** % change here refers to volume
TOP 5 BLOCK ORDERS
| SYMBOL | PRICE | TYPE | R/VOL | FUNDS FLOW $ |
| FB | 220.18 | equities | 136.17 | 20,815.7M |
| BBWI | 58.35 | equities | 112.11 | 235.8M |
| NIO | 24.69 | equities | 101.93 | 1,050.1M |
| ZT | 108.0150 | US bonds futures | 5,000 | 54,007.5M |
| CL | 73.25 – 89.58 | crude oil futures | 6,782 | 590.4M |
OUR PICK – No New Pick
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 2.86%, COG (CTRA) (16% undervalued) yielding 2.23% and averaged down on T (16% undervalued) at 8.69% yields. CLVS is currently 24% overvalued with -8.20 z-score but recent SEC reports showed institutional net buying and we decided to hold. We remain bullish with VIPS (45% undervalued with 5.98 z-score), GT (38% undervalued with 1.40 z-score) and CRON (18% undervalued with 9.18 z-score) while bearish GE (15% overvalued with 1.43 z-score). We have also locked profits for GE, GT and CTRA.
For high probability picks, please use our Trading Central services or join us at MFM’s TradeCopy
| 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