By MFM Team STATE OF THE MARKETS
Sentiments soured as tension returned. US stocks were sold off across the board on Thursday after reports of Russian troops returning to the Ukrainian border. Tech sector led the dive while energy and utilities stayed in the green as Dow (-1.78%), Nasdaq (-2.88%) and S&P (-2.12%) including Russell (-2.46%) closed in the red. The Dollar index stalled at the 95.80 barrier as funds flowed to the safety of bonds. The 10Y benchmark fell to 1.95% while the shorter 5Y to 1.82% and the 2Y to 1.45%.
In the commodities market, crude pared earlier losses to close above $89.90/bl after concerns of supply disruption from Russia. Gold skyrocketed past $1,900/oz at writing, while continuous profit taking, forced iron ore to pull back deeper to $142.20/tn.
In the FX space, long term investors were right to turn bearish yesterday as now, Yen seized the helm of demand across all horizons. Demand for safe-haven Swiss and Dollar remained elevated as the commodity currencies were sent to offers. Kiwi, however, was seen on strong bids in the short term accounts.
On Friday, markets look for earnings reports from Deere & Co (DE), PPL Corp (PPL), DraftKings (DKNG), Barnes Group (B), Arbor Realty (ABR), Bloomin’ Brands (BLMN) and RR Donnelley (RRD) as well as the latest figures on US home sales and the Leading indicators.
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G8 CURRENCIES SENTIMENTS
| ST | JPY | NZD | CHF | GBP | AUD | USD | EUR | CAD | ST |
| MT | JPY | CHF | GBP | USD | NZD | AUD | CAD | EUR | MT |
| LT | JPY | CHF | USD | EUR | GBP | 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 |
| PLTR | 11.77 | – 15.75 | 151,385.4K | 40,893.2K |
| UVXY | 16.42 | + 17.03 | 103,771.0K | 60,645.9K |
| SPY | 437.06 | – 2.14 | 102,259.1K | 88,606.3K |
| AMD | 112.37 | – 4.52 | 98,179.6K | 70,179.5K |
| NVDA | 245.07 | – 7.56 | 81,059.5K | 46,767.5K |
| TQQQ | 52.51 | – 8.87 | 78,835.6K | 101,135.7K |
| SQQQ | 41.89 | + 8.86 | 78,147.4K | 43,102.5K |
| SOXS | 4.38 | + 11.17 | 76,932.8K | 33,544.9K |
| MRIN | 3.76 | + 14.98 | 72,747.0K | 1,976.2K |
| AAPL | 168.88 | – 2.13 | 69,589.3K | 92,233.7K |
** % Change here refer to price
WALL ST TOP FLOWS
| TICKER | LAST PRICE |
VOLUME |
% CHANGE | FUNDS FLOW $ |
| NVDA | 245.07 | 81,059.5K | + 38.80 | 19,865.3M |
| TSLA | 876.35 | 18,392.8K | – 33.82 | 16,118.5M |
| AAPL | 168.88 | 69,589.3K | – 29.14 | 11,752.2M |
| AMD | 112.37 | 98,179.6K | – 12.18 | 11,032.4M |
| AMZN | 3,093.05 | 3,201.6K | – 36.35 | 9,902.7M |
| MSFT | 290.73 | 32,461.5K | – 29.15 | 9,437.5M |
| FB | 207.71 | 38,747.5K | – 27.64 | 8,048.2M |
| GOOGL | 2,650.78 | 1,947.4K | – 22.86 | 5,162.1M |
| DASH | 105.03 | 47,405.7K | + 545.43 | 4,979.0M |
| SHOP | 660.00 | 7,050.5K | + 109.98 | 4,653.3M |
** % change here refers to volume
TOP 5 BLOCK ORDERS
| SYMBOL | PRICE | TYPE | R/VOL | FUNDS FLOW $ |
| BTU | 17.43 | equities/options | 69.46 | 128.2M |
| GC | 1,876.70 | gold futures | 270 | 506.7M |
| SI | 23.8850 – 23.9300 | silver futures | 200 | 23.9M |
| ZF/N – UB | 117.3150 – 181.1600 | US bonds futures | 9,842 | 129,854.2M |
| CL | 90.00 – 92.10 | crude oil futures | 4,465 | 408.2M |
OUR PICK – No New Pick
No new pick going into the weekend. Outflows were reported across the board, with $500 million from domestic equities, $8.06 billion from taxable bonds and a huge $41.9 billion from the money market funds. As we had anticipated last year, much of these funds were funneled to foreign equities, especially emerging markets, commodities as well as defensive value stocks as markets are shifting from growth.
Trades updates:
Equities: GT was stopped with small profits, we remain bullish on AUY (21% undervalued) with dividends yielding 2.61%, COG (CTRA) (15% undervalued) yielding 2.19%, T (17% undervalued) at 8.75% yields, MO (21% undervalued) at 7.01% yields, VIPS (44% undervalued with 5.98 z-score) and CRON (19% undervalued with 9.18 z-score).
FX & Commodities: AUD/USD hit SL.
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| 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