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Equities Tumbled As Markets Turned Cautious

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STATE OF THE MARKETS

Equities tumbled as markets turned cautious. Global equities tumbled on Thursday as markets turned cautious when strong US employment data stemmed earlier than expected rate hike sentiments. S&P (-0.36%), Dow (-0.07%), FTSE UK (-0.61%), including Nikkei (-0.31%) trending lower, after uptick in US yields boosted Dollar and sent gold lower. Short term US notes 6 months saw a jump of 13% to 0.043% while 1 month yield increased by 102% to 0.01%. The 10Y benchmark yielded higher, above 1.63%, as New York closed.

Crude futures was in a range trading, closed around $68.80/bl, as traders digest the fell in crude supplies yet rise in fuel inventories. US crude supplies dropped by 5.1 million barrels last week, yet petrol and distillates grew by 5.2 million barrels. Gold saw more than 1.9% drop to around $1,865.10/oz after yields seeking investors ran to Dollar amid rising yields.

King Dollar seized the reign of demand in short and medium term accounts, as Kiwi, Aussie, Swiss, Euro and Sterling were sent to the back burner. Demand for Yen was seen elevated, signaling cautious sentiments among short term traders and medium term investors. Long term investors were also seen demanding more Yen than Aussie. NFP Friday might be another sell on the news event.


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G8 CURRENCIES SENTIMENTS

ST USD GBP CAD JPY CHF EUR AUD NZD ST
MT USD CAD JPY EUR GBP CHF AUD NZD MT
LT GBP CAD CHF EUR USD NZD JPY 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
SNDL 1.29 + 14.16 893,646.7K 421,665.8K
AMC 51.34 – 17.92 598,142.2K 167,766.1K
BB 15.88 + 4.13 536,739.4K 36,491.3K
F 15.99 + 7.24 179,671.4K 77,759.4K
WKHS 14.77 + 28.21 156,013.2K 17,989.9K
GTT 3.49 + 39.60 143,938.9K 3,872.5K
NOK 5.48 + 0.55 100,445.4K 80,486.0K
EDU 9.32 – 12.08 97,366.6K 18,116.2K
TLRY 19.72 + 3.79 84,607.7K 32,931.0K
ADMP 1.13 + 61.43 94,286.6K 8,271.1K
** % Change here refer to price

WALL ST TOP FLOWS

TICKER LAST PRICE

VOLUME

% CHANGE FUNDS FLOW $
AMC 51.34 598,142.2K + 129.69 30,708.6M
TSLA 572.84 30,111.8K – 2.55 17,249.2M
NVDA 678.79 14,500.1K + 48.71 9,842.5M
AAPL 123.54 76,229.1K – 5.80 9,417.3M
BB 15.88 536,739.4K + 755.43 8,523.4M
AMZN 3,187.01 2,398.2K – 28.42 7,643.1M
MSFT 245.71 25,307.7K + 3.56 6,218.4M
FB 326.04 12,610.7K – 23.83 4,111.6M
F 15.99 179,671.4K + 71.71 2,872.9M
BABA 217.04 12,448.1K – 33.39 2,701.7M
** % change here refers to volume

TOP 5 BLOCK ORDERS

SYMBOL PRICE / STRIKE TYPE VOL/OI FUNDS FLOW $
WKHS 14.77 / 18.00 stock options/call 94.31 2,304.3M
GM 63.46 / 65.00 stock options/put 81.06 2,422.9M
BB 15.88 / 17.00 stock options/put 72.21 8,523.4M
TAL 33.27 / 25.00 stock options/put 60.40 1,040.4M
CL 63.10 – 69.00 crude oil futures 1,514 100.9M

OUR PICK – No New Picks

No new picks going into the weekend. Two things that caught our attention this week other than the ongoing capital outflows from the US equities market. One is the increase in labor costs of 1.7%, above consensus of -0.4%, that comes with strong ADP employment numbers. NFP today will be a witness, whether the weak data last month is just a hiccup or rather a trend of people more comfortable collecting unemployment benefits than going to work or need to be incentivized to go to work.

Second is the falling crude supplies yet rising petrol and distillates consumables. US crude supplies dropped by 5.1 million barrels last week, yet petrol and distillates grew by 5.2 million barrels. This simply means crude that was processed is not being consumed, because there is not much demand for transportation after all. This might just be a hiccup or something alarming for crude bulls. Have a wonderful weekend!

Trades updates:  We remain bullish PFE and will continue to accumulate on dip, we look to close MO around $48.50, we remain bullish AUY and will re-entry if stopped, AUD/USD has reached short term TP1, EUR/USD has reached TP1, we remain bullish T and bearish AUD/NZD.

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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.