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Stocks Popped And Dropped

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STATE OF THE MARKETS

Stocks popped and dropped. Major US indexes popped higher on the open Tuesday after the long weekend, only to drop and close mixed in tone. While Dow (+0.13%) and Russell (+1.14%) closed higher; Nasdaq (-0.09%) and S&P (-0.05%) settled lower as long term investors continued to take profits off the table. More than $123 billion worth of block orders flowed into the US bond futures as the 10Y benchmark hit 1.64% for the day.

Crude futures jumped to as high as $68.87/bl after reports showed that OPEC+ noted that demand has not been this high in years. The black gold settled around $67.93/bl as New York closed. On another note, gold was on offer, closed below $1900/oz, after news hit the wires that Feds might start discussing tapering in it’s June meeting.

The news on Fed’s tapering, sent Dollar to the helm of demand in the medium term accounts, while pushing Aussie and Kiwi back to the offered territory. Short term accounts were also seeing increased demand for Swiss, Yen and Dollar, while Sterling was sent to the back burner. Long term remains relatively unchanged.


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G8 CURRENCIES SENTIMENTS

ST AUD CHF JPY USD EUR CAD NZD GBP ST
MT USD GBP CAD CHF EUR AUD NZD JPY MT
LT GBP CAD CHF EUR NZD AUD USD JPY 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
AMC 32.04 + 22.66 508,694.6K 157,298.7K
SNDL 1.00 + 3.09 302,576.4K 417,603.7K
OEG 7.64 + 115.21 234,127.6K 4,107.1K
VTNR 8.59 + 9.99 124,627.4K 8,432.2K
WPG 4.74 + 113.51 106,732.2K 2,323.8K
NIO 42.34 + 9.63 101,544.0K 88,132.1K
F 14.81 + 1.93 89,071.0K 80,504.3K
BB 11.56 + 14.80 87,552.4K 33,716.2K
CLDR 15.93 + 23.87 71,330.6K 4,129.3K
AAPL 124.28 – 0.26 67,637.1K 100,430.4K
** % Change here refer to price

WALL ST TOP FLOWS

TICKER LAST PRICE

VOLUME

% CHANGE FUNDS FLOW $
AMC 32.04 508,694.6K + 160.43 16,298.6M
TSLA 623.90 18,084.8K – 41.30 11,283.1M
AAPL 124.28 67,637.1K – 20.63 8,405.9M
AMZN 3,218.65 2,430.0K – 32.26 7,821.3M
NVDA 650.58 11,820.0K + 29.12 7,689.9M
MSFT 247.40 23,052.8K – 6.90 5,743.0M
BABA 219.48 23,052.8K + 24.11 5,059.6M
NIO 42.34 101,544.0K + 40.41 4,299.4M
FB 329.13 11,765.9K – 32.08 3,872.5M
AMD 80.81 43,433.0K – 0.16 3,509.8M
** % change here refers to volume

TOP 5 BLOCK ORDERS

SYMBOL PRICE / STRIKE TYPE VOL/OI FUNDS FLOW $
VIPS 24.05 / 28.00 stock options/call 91.14 273.7M
6Z 0.072575 FX futures/ZARUSD 280 2.0M
ZF 123.2550 US bond futures 10,000 123,255.0M
GC 1,900.50 gold futures 25 4.7M
CL 57.77 – 68.50 crude oil futures 584 36.9M

OUR PICK – AT&T (T, NYSE)

Back into the business. When AT&T decided to stray away from its core business, we knew then it’s not gonna end well as in any companies that have tried that before. Telco married with media, Plantation married with banks, and many more over the decades. Telco is a boring business, so management thought adding entertainment would make it fun. Investors however don’t agree as the stock prices fell from around $34 to $27 in a few months after AT&T bought Time Warner for $85 billion. Now after three years, AT&T realized it’s better off by focusing on its core business; especially post Covid where demand for bandwidth is higher than ever. We see AT&T remains on firm bid above $28 as we have foresaw in late January.

HORIZON STRATEGY SL TP1 TP2
Short-Term Buy 28.00 30.50 31.70
Medium-Term Buy 28.00 31.70 33.00
Long-Term Buy 28.00 33.00 34.35

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.