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Stocks Up With Mixed Breadth

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STATE OF THE MARKETS

Stocks up with mixed breadth. US stocks were on the up move Thursday but with mixed breadth as investors shrugged off the hotter than expected inflation numbers. Capital outflows were noted as Dow (+0.06%), Nasdaq (+0.78%) and S&P (+0.47%), except Russell (-0.68%) edged higher when New York closed. Demand for bond safety continues to increase, sending the 10Y benchmark below 1.50% for the first time in 14 weeks.

Crude futures were on firm bids, above the $70/bl mark, as investors confidence that Iran’s new supplies will not offset strong demand by much. The anti-inflationary asset gold, bode well on inflation increase as it remains firm above $1,880/oz after Dollar (DXY) took a plunge back below the 90 mark.

King Dollar suffered a setback as the US senate approved a $547 billion infrastructure spending bill while Aussie and Sterling returned to the demand territories. Investors seemed cautious as safe haven Yen was more in demand, with Swiss. Loonie bulls were seen on offers across the board as traders and investors took profits off the table. Short and medium term accounts were seen to be buying Kiwi and selling Euro.


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G8 CURRENCIES SENTIMENTS

ST GBP AUD JPY NZD CHF CAD USD EUR ST
MT AUD CHF JPY NZD GBP EUR CAD USD MT
LT CHF EUR GBP USD JPY NZD CAD 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
AMC 42.81 – 13.23 224,860.5K 148,910.9K
ANY 3.21 + 60.50 201,037.2K 1,416.5K
MEDS 6.67 + 63.48 195,080.5K 82.8K
SNDL 1.03 – 9.65 188,437.8K 390,533.1K
CLOV 14.34 – 15.25 155,520.6K 35,706.7K
OCGN 6.69 – 28.14 143,568.5K 74,956.6K
SQQQ 10.41 – 3.16 97,128.1K 88,496.1K
WISH 10.69 + 0.85 96,133.4K 14,153.6K
SENS 3.62 + 17.92 97,802.8K 33,331.4K
AHT 6.28 – 5.85 87,998.7K 21,231.9K
** % Change here refer to price

WALL ST TOP FLOWS

TICKER LAST PRICE

VOLUME

% CHANGE FUNDS FLOW $
TSLA 610.12 23,919.6K – 15.80 14,593.8M
AMZN 3,349.65 3,476.4K + 23.56 11,644.7M
AMC 42.81 224,860.5K – 28.18 9,626.3M
AAPL 126.11 71,186.4K – 4.03 8,977.3M
MSFT 257.24 24,563.6K + 9.44 6,318.7M
GME 220.39 22,980.1K + 124.79 5,064.6M
NVDA 697.00 7,194.2K – 33.89 5,014.4M
FB 332.46 13,240.2K – 12.71 4,401.8M
GOOG 2,521.60 1,561.7K + 35.11 3,938.0M
BA 248.34 14,519.1K + 21.18 3,605.7M
** % change here refers to volume

TOP 5 BLOCK ORDERS

SYMBOL PRICE / STRIKE TYPE VOL/OI FUNDS FLOW $
LAZR 23.62 / 35.00 stock options/put 55.98 83.9M
VRAY 5.76 / 6.00 stock options/call 54.99 14.9M
SI 28.06 silver futures 25 3.5M
ZN 132.2450 US bond futures 3,665 48,467.8M
CL 68.35 – 70.20 crude oil futures 1,749 121.1M

OUR PICK – No New Pick

No new picks going into the weekend. It seems that investors are buying the idea that inflations are transient as they flocked to bonds at current rates. At least for now. Here are the facts. Over the past three months, monthly core CPI has increased 2.0% – the most since July 1982. Annually it has increased 3.8% – the most since June 1992. Since core CPI excludes foods and energy, it does say much about the cost of goods and services in general. Obviously it has now surpassed the Fed’s 2% target and if not contained, it may result in markets losing faith if rates continue to stay low. At this point, the only US bond maturity that yields more than 2% is the 30Y (2.14%), which is an awfully long time for some investors. We’ll see what Feds has to say next week.

Trades updates:  We still look to close MO around $48.50, we remain bullish AUY and will re-entry if stopped, we may close AUD/USD and EUR/USD for now and re-enter on better fills next week, we remain bullish T and bearish AUD/NZD as short-term USD/JPY long was filled.

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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.