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Tech Stocks Climbed Amid Mixed Markets

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STATE OF THE MARKETS

Tech stocks climbed amid mixed markets. US equities closed mixed Monday as optimism over covid-19 vaccines and stimulus package getting a reality check. Dow fell 185 points (-0.6%), S&P500 edged lower 16 points (0.4%) while the tech heavy Nasdaq gained 62 points (0.5%) in a heavy volume trading. The US 10Y yield benchmark surged to as high as 0.94% before sliding lower and closed relatively unchanged compared to Friday, around 0.90% as flights to safety regained track.

Crude continue to climb higher to close around $46.95 but continue under selling pressure from speculators with block orders worth more than $180m exchanged hands around the $47/barrels. Gold was also seen under selling pressure as investors expect market recovery when vaccine took effects as early as next Spring. The yellow metal was pressed as low as $1,820/oz before closing the day around $1,832/oz.

Outflows from commodities however, didn’t have much effects on the Greenback as the Dollar index (DXY) still struggled to closed above the 91 handle. Nevertheless, long term Euro and Aussie buyers were seen taking profits ahead of the year end with more than $380m in block orders exchanged hands.


G8 CURRENCIES SENTIMENTS

ST CHF EUR CAD GBP JPY USD AUD NZD ST
MT AUD NZD CHF EUR CAD USD JPY GBP MT
LT AUD NZD CHF CAD EUR GBP JPY USD 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 40.98 – 2.38 171,598.2K 151,823.8K
VERU 9.70 + 52 .56 134,631.8K 1,336.8K
PFE 39.21 – 4.64 94,809.7K 34,948.3K
BCDA 4.48 + 58.87 91,212.7K 103.2K
AAL 16.70 – 2.05 88,139.9K 72,766.6K
AAPL 121.78 – 0.51 79,075.9K 146,661.9K
GE 10.83 – 2.96 79,317.5K 103,826.4K
F 8.91 – 1.22 76,826.0K 62,217.0K
AMC 3.19 – 18.62 67,159.0K 15,347.5K
GNUS 1.83 + 14.38 59,750.8K 24,977.7K
** % Change here refer to price vs previous day price

WALL ST TOP FLOWS

TICKER LAST PRICE

VOLUME

% CHANGE FUNDS FLOW $
TSLA 639.83 52,040.6K + 0.81 33,297.1M
AMZN 3,156.97 4,155.7K + 20.48 13,119.4M
AAPL 121.78 79,075.9K – 13.56 9,629.9M
NIO 40.98 171,598.2K – 16.81 7,032.1M
MSFT 214.20 28,798.3K  + 9.83 6,168.6M
DIS 169.30 30,939.4K  + 110.38 5,238.0M
BABA 256.03 18,369.9K + 4.67 4,703.2M
AMD 94.78 48,026.4K + 13.10 4,551.9M
FB 274.19 16,376.8K + 6.39 4,490.4M
BA 228.62 19,231.2K – 29.33 4,396.6M
** % change here refers to volume vs. 20 days average volume.

TOP 5 BLOCK ORDERS

TICKER PRICE/STRIKE TYPE VOL/OI FUNDS FLOW
WES 14.39/13.00 stock options/put 100.07 44.2M
DIS 169.30/165.00 stock options/put 94.91 5,238.0M
6E 1.2180 FX futures/EUR 1,614 196.6M
6A 0.7563 – 0.7569 FX futures/AUD 2,532 191.6M
CL 46.45 – 47.40 crude oil futures 3,956 185.7M

OUR PICK – Gold

Short term uncertainties may fuel rebound but medium term weakness is on the cards. New covid-19 vaccines are full of uncertainties in the short-term that might fuel the rebound in gold as investors are skeptical of the vaccine results. At the same time, assured 95% effectiveness by Pfizer and US FDA would pave a greater acceptance by the public in the medium term which could see the yellow metal dive lower. The risk still exists though, that more money printing by the Feds would drive the metal higher in the long term.

HORIZON STRATEGY SL TP1 TP2
Short-Term Buy 1,815 1,850 1,860
Medium-Term Sell 1,875 1,800 1,780
Long-Term Buy

 

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.