By MFM Team STATE OF THE MARKETS
Risk-On continues. US stocks continued its upward trajectory on Tuesday, with Dow (+0.09%), S&P (+0.15%), and Nasdaq (+0.52%), including Russell (+1.02%) finished in the green after optimism returned as markets speculated that Feds want to wait and see the employment figures after stimulus benefits expire in September. Dollar (DXY) and gold were little changed as the 10Y yields firmed around 130 basis points.
Optimism sent crude back higher for a second straight day, settling above $67.50/bl as New York closed, while investors waited for EIA inventory reports on Wednesday. Gold on the other hand, cooled off the $1,800/oz handle as short term traders continue to take their gains while positioning for medium and long term holdings in the event Feds throw a taper tantrum.
The comdolls continue to lead the demand in short term accounts, as Loonie and Kiwi played catch-up in the medium and long term accounts. Long term accounts, however, remain cautious as Swiss, Yen and Dollar continue to lead in demand. Medium term accounts are turning bullish as Swiss and Yen were offered while Dollar remained in demand.
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G8 CURRENCIES SENTIMENTS
| ST | NZD | AUD | CAD | EUR | GBP | USD | JPY | CHF | ST |
| MT | CAD | EUR | NZD | USD | CHF | AUD | GBP | JPY | MT |
| LT | CHF | JPY | USD | CAD | NZD | EUR | GBP | 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 |
| EDU | 2.15 | + 26.47 | 233,401.0K | 59,990.7K |
| AMC | 44.26 | + 20.34 | 228,489.6K | 140,436.8K |
| SPRT | 11.67 | + 4.48 | 80,740.5K | 4,974.8K |
| TKAT | 7.04 | + 28.00 | 80,121.1K | 2,386.0K |
| WISH | 7.12 | + 6.43 | 68,735.2K | 55,275.2K |
| BPTH | 6.54 | + 14.94 | 66,273.8K | 200.1K |
| BABA | 171.70 | + 6.61 | 62,786.4K | 18,708.4K |
| TAL | 5.60 | + 16.67 | 62,737.3K | 25,188.4K |
| SQQQ | 7.67 | – 0.90 | 60,488.0K | 76,031.8K |
| F | 13.08 | + 2.75 | 53,672.5K | 75,184.8K |
** % Change here refer to price
WALL ST TOP FLOWS
| TICKER | LAST PRICE |
VOLUME |
% CHANGE | FUNDS FLOW $ |
| BABA | 171.70 | 62,786.4K | + 106.11 | 10,780.4M |
| AMC | 44.26 | 228,489.6K | + 188.13 | 10,113.0M |
| TSLA | 708.49 | 13,083.0K | – 30.94 | 9,269.2M |
| AMZN | 3,305.78 | 2,551.8K | – 24.53 | 8,453.7M |
| AAPL | 149.62 | 48,606.4K | – 28.97 | 7,272.5M |
| NVDA | 217.93 | 29,729.8K | + 6.55 | 6,479.0M |
| AMD | 107.65 | 51,239.2K | – 52.67 | 5,515.9M |
| MRNA | 394.94 | 13,957.5K | – 38.63 | 5,512.4M |
| MSFT | 302.62 | 18,175.7K | – 11.57 | 5,500.3M |
| PANW | 441.87 | 11,132.6K | + 636.50 | 4,919.2M |
** % change here refers to volume
TOP 5 BLOCK ORDERS
| SYMBOL | PRICE / STRIKE | TYPE | VOL/OI | FUNDS FLOW $ |
| PDD | 99.12 / 101.00 | stock options/call | 65.95 | 4,180.7M |
| GDS | 56.25 / 45.00 | stock options/put | 64.59 | 276.1M |
| GC | 1,811.80 | gold futures | 50 | 9.1M |
| ZF | 123.3150 | US bonds futures | 10,000 | 123,315.0M |
| CL | 62.20 – 67.72 | crude oil futures | 7,481 | 495.7M |
OUR PICK – No New Pick
Humbled by markets. This is the second time we had another three losses in a row. We are humbled by markets and this is not the first time and we know it won’t be the last either. When this happens, we tend to think that something is wrong somewhere. Fact of the matter is, markets are changing and moving towards new dynamics. Uncertainties about Fed’s tapering, delta spread, Afghan crisis are not something we are able to foresee. We just have to accept the losses, manage our risk and move on. In the meantime, we will take a break for a week on picking of the markets.
Trades updates: We are accumulating AUY as the stock now pays dividends yielding 2.70% at current price, we remain bullish T and will accumulate as dividends yields now at 7.58%, we remain bullish COG and will accumulate as dividends yields now at 2.99%, we remain bullish CLVS, VIPS and GT while bearish GE. (Note: GE’s dividend yield is at 0.31% and CLVS, VIPS and GT currently does not pay any dividends)
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| HORIZON | STRATEGY | SL | TP1 | TP2 |
| Short-Term | – | – | – | – |
| Medium-Term | – | – | – | – |
| Long-Term | – | – | – | – |
Disclaimer:
This article is for general information purpose only. It is not an investment advice or a solicitation to buy or sell any securities. 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