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Stocks Tumbled Amid Risk-Off Sentiments

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STATE OF THE MARKETS

Stocks tumbled amid risk-off sentiments. Growth stocks tumbled across the board as risk sentiments turned sour after comments from Treasury Yellen that rate need a hike soon. Major US index – S&P500 (-0.67%), Nasdaq (-1.88%), including Russell200 (-1.28%) – was sold off, though Dow (+0.06%) edged higher as investors ran to blue chips defensive stocks. Bonds market saw heavy inflows forcing yields to dip, with the 10Y benchmark fell to as low as 1.56% before settled around 1.59% as New York closed.

As of this writing, crude continues its upward trajectory, closed above $66/bl for the first time in 24 months, as markets focused on US and Europe re-openings, instead of rising death in India and Brazil. Gold took a dip on profit taking, closed above $1,778.50/oz, as markets weigh Yellen remarks afterwards.

In the FX space, King Dollar seized the reign of demand in the short term, backed by Swiss, Yen and Loonie as risk off sentiments sent Aussie and Kiwi to the back burner. Sterling continues to overbid Euro, in the short to medium term, but coming Scottish election and BoE decision on Thursday might trigger offers on Sterling.


G8 CURRENCIES SENTIMENTS

ST USD CHF JPY CAD GBP EUR AUD NZD ST
MT CAD CHF GBP USD AUD JPY EUR NZD MT
LT CHF CAD EUR NZD AUD JPY GBP USD 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
COCP 2.14 + 72.58 631,688.7K 2,287.6K
BLRX 4.88 + 52.98 243,972.5K 1,554.4K
PRPO 5.25 + 6.06 233,895.0K 4,397.9K
UVXY 4.64 + 5.69 139,810.8K 80,985.4K
AAPL 127.85 – 3.54 137,540.0K 104,938.3K
SQQQ 11.66 + 5.42 129,326.4K 84,000.4K
SPY 415.62 – 0.62 101,486.3K 77,600.0K
OCGN 12.51 – 20.22 90,459.3K 89,773.8K
REED 1.44 + 44.00 89,689.4K 1,189.2K
NIO 37.93 – 4.07 78,171.3K 102,577.5K
** % Change here refer to price

WALL ST TOP FLOWS

TICKER LAST PRICE

VOLUME

% CHANGE FUNDS FLOW $
TSLA 673.60 29,617.7K – 5.95 19,950.5M
AMZN 3,311.87 5,438.3K + 37.08 18,010.9M
AAPL 127.85 137,540.0K + 47.99 17,584.5M
MSFT 247.79 32,740.7K + 23.34 8,112.8M
FB 318.36 24,034.8K + 19.92 7,651.7M
NVDA 574.05 10,119.5K + 23.18 5,809.1M
GOOGL 2,306.83 2,241.1K + 37.53 5,169.8M
AMD 78.61 59,150.3K + 17.16 4,649.8M
BA 233.63 17,793.7K + 40.83 4,157.1M
GOOG 2,354.25 1,755.7K + 21.27 4,133.4M
** % change here refers to volume

TOP 5 BLOCK ORDERS

SYMBOL PRICE/STRIKE TYPE VOL/OI FUNDS FLOW $
GSX 28.37/30.00 stock options/call 80.67 204.1M
TSLA 673.60/665.00 stock options/call 43.80 20,032.4M
ZN 132.1400 US bond futures 8,400 110,997.6M
SI 27.08 silver futures 260 35.2M
CL 63.20 – 65.40 crude oil futures 2,094 136.3M

OUR PICK – Yamana Gold (AUY, NYSE)

Upcoming Dividends. Recent earnings met estimates and the company declared a three cents dividend for on record of June 30th and payable on July 14th, which we see might sustain price to the upside. Bullish sentiments in gold, might also help buoyed demand from investors seeking inflationary protection. As we do not see Yamana go bankrupt in the next 12 months, the 1.80% TTM (trailing twelve months) yields seemed attractive to us to hold the stock for long term without stop loss on our cash account (1:1 leverage).

HORIZON STRATEGY SL TP1 TP2
Short-Term Buy 4.45 4.95 5.20
Medium-Term Buy 4.15 5.20 5.50
Long-Term Buy 4.15 5.50 6.00

Note: If you require fundamental reports for this stock, please contact your account manager or [email protected] for a copy.

 

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.