Markets Prepare for a Holiday With Virus

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STATE OF THE MARKETS

Profit taking marks that holiday and hedging are coming. Major indexes are lowered Thursday as investors continue to take profits in preparation for the coming holiday. On top of that, talks of a second lockdown to curb the pandemic, bolster demand for safe-havens as investors optimism waned. Treasury yields slid lower as more than $300b was flowing into the US Treasury as it open after the Veterans’ Day.

Crude closed lower to $41.09 on demand concerns as major economies continue talking about a second lockdown that would  hammer economic activities. Gold firmed above $1,870 and futures point to higher demand as investors hedge their positions against any catastrophic backdrop during the holiday.

This was evident as Yen, Swiss and the Greenback were in demand on the short-term while flows on the medium and long terms suggest EUR and GBP repatriation to prepare for end of year consolidation.

 


G8 CURRENCIES SENTIMENTS

ST JPY EUR CHF USD CAD NZD AUD GBP ST
MT NZD USD GBP EUR AUD CAD CHF JPY MT
LT NZD GBP AUD EUR JPY USD CAD CHF LT
** ST refers to Short-Term which is daily turnover, MT is Medium Term which is 
weekly
and LT refers to Long-Term which is monthly turnover.

WALL ST MOST ACTIVE

TICKER LAST PRICE

% CHANGE

VOLUME 90 DAYS AVG
NIO 48.30 +12.12 348,326.3K 134,005.5K
XPEV 44.73 +33.40 166,845.7K 17,749.3K
AAPL 119.21 -0.23 103,350.6K 160,196.8K
IMAC 1.52 +82.47 99,750.9K 1,333.9K
PLTR 14.58 -8.65 99,287.6K 46,109.8K
F 8.21 -1.44 82,319.8K 64,585.3K
GE 8.76 -1.48 79,618.5K 98,365.9K
LI 31.78 +27.27 75,584.3K 12,185.9K
AAL 11.74 -2.49 75,726.7K 66,342.2K
SQQQ 19.90 +1.32 70,895.9K 60,454.2K
** % Change here refer to price vs previous day price

WALL ST TOP FLOWS

TICKER LAST PRICE

VOLUME

% CHANGE FUNDS FLOW $
NIO 48.30 348,326.3K +92.86 16,824.2M
AMZN 3,110.38 4,371.2K -21.38 13,595.7M
AAPL 119.21 103,350.6K -15.20 12,320.4M
TSLA 411.76 19,940.5K -33.14 8,210.7M
XPEV 47.73 166,845.7K +454.72 7,463.0M
BABA 264.31 27,181.0K +20.98 7,184.2M
ZM 428.64 14,935.9K +41.29 6,402.1M
NVDA 538.28 9,165.8K +6.29 4,933.7M
MSFT 215.44 21,616.1K -31.95 4,656.9M
PDD 134.21 32,111.9K +307.83 4,309.7M
** % change here refers to volume vs. 20 days average volume.

TOP 5 BLOCK ORDERS

TICKER PRICE/STRIKE TYPE VOL/OI FUNDS FLOW
NIO 48.30/46.00 stock options/put 170.17 16,824.2M
XPEV 44.73/45.00 stock options/put 77.60 7,463.0M
HSBC 24.26/26.00 stocks options/call 76.08 80.0M
RY 124.04 FX futures/EuroYen 670 79.3M
ZB-ZF 125.10 – 171.30 US bond futures 23,335 316.8B

OUR PICK – Gold

Gold is in the accumulation process, vaccine news level to be tested. Our previous gold trade worked well for the short term but medium term suffered a setback as US election election results set in. Vaccine news sent the metal price lower but in the short to medium term; as investors prepare to hedge for the holiday and potential second lockdown; plus another round of stimulus post US election, we believe it’s being accumulated and the metal would grind higher especially after it passed monthly pivot circa $1,890.00 and vaccine news level at $1,950 will be tested.

HORIZON STRATEGY SL TP1 TP2
Short-Term Buy 1,855.00 1,925.00 1,955.00
Medium-Term Buy 1,855.00 1,955.00 2,000.00
Long-Term Buy 1,855.00 2,000.00 2,050.00

 

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.

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MFM Team