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Stocks Climb Higher As Fears Subside

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STATE OF THE MARKETS

Stocks climb higher as fears subside. US stocks climbed higher on Wednesday, with Dow (+0.83%), Nasdaq (+0.92%), and S&P (+0.82%) , including Russell (+1.81%) pared last week’s losses, after more positive earnings results were reported from Dow member companies. Bond prices continue to fall, sending yields higher, with the 10Y benchmark now back in the 1.30% mark.

In the commodities market, crude futures staged further rally from dip buyers, settling price above $70.30/bl as New York closed; even though US crude inventories reported an unexpected rise of 2.1 million barrels last week. Gold pulled back further as risk appetite improves and higher yields attract more investors to the US bonds. The yellow metal settled around $1,803.30/oz as New York closed.

In the FX space, risk-off remains on the cards for medium to long term accounts as Yen, Dollar and Swiss led the demand while the comdolls, Euro and Sterling were offered. Short term traders seemed to take advantage of the oversold high beta currencies, to bid the bargains and offer more Dollars and Yen. ECB meeting Thursday may remain as dovish as expected, while US jobless claims would give clues to the employment sector of the US economy.


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G8 CURRENCIES SENTIMENTS

ST CAD GBP NZD CHF AUD EUR USD JPY ST
MT USD JPY CHF EUR CAD NZD GBP AUD MT
LT CHF JPY USD NZD EUR GBP 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
CEMI 5.34 + 159.22 396,463.2K 3,749.9K
AMC 40.78 – 5.36 158,023.6K 141,576.6K
NURO 20.80 + 107.17 89,197.6K 3,227.3K
AAPL 145.40 – 0.51 74,993.4K 88,544.7K
XELA 2.92 + 6.18 70,212.7K 41,294.3K
GE 13.08 + 2.99 67,525.8K 60,797.4K
SPY 434.55 + 0.81 64,724.4K 72,952.4K
MMAT 3.83 + 20.06 62,837.2K 16,170.4K
XLF 36.60 + 1.72 59,975.0K 54,813.5K
NIO 46.77 + 5.89 59,851.7K 73,766.9K
** % Change here refer to price

WALL ST TOP FLOWS

TICKER LAST PRICE

VOLUME

% CHANGE FUNDS FLOW $
AAPL 145.40 74,993.4K – 13.63 10,904.0M
MRNA 321.11 30,859.2K + 69.77 9,909.2M
TSLA 655.29 13,953.3K – 38.27 9,143.5M
AMZN 3,585.20 2,318.9K – 33.60 8,313.7M
NVDA 194.10 37,101.7K – 11.62 7,201.4M
MSFT 281.40 24,364.3K + 2.62 6,856.1M
AMC 40.78 158,023.6K + 53.50 6,444.2M
NFLX 513.63 11,906.7K + 205.64 6,115.6M
CRM 242.11 15,323.1K + 132.61 3,709.9M
FB 346.23 9,279.6K – 35.35 3,212.9M
** % change here refers to volume

TOP 5 BLOCK ORDERS

SYMBOL PRICE / STRIKE TYPE VOL/OI FUNDS FLOW $
PBR 10.70 / 11.50 stock options/call 93.50 231.4M
CEMI 5.34 / 15.00 stock options/call 62.46 2,117.1M
SI 25.25 silver futures 25 3.2M
ZN-T 110.0838 – 134.2250 US bond futures 22,186 283,138.4M
CL 64.80 crude oil futures 400 25.9M

OUR PICK – No New Pick

No new pick as we had three losses in a row. Losses is part of the game that even professionals have to embrace. No exceptions. Our strategy remains intact but sudden change in market dynamics is not something we sometimes can foresee in advance. That’s why we had losses in AUD/CHF, XAG/USD, EUR/USD, USD/CAD and more recently AUD/CAD. These losses happened in a row and as part of our risk management strategy, we would not have any new picks until after the next NFP in August.

Trades updates:  We will continue to accumulate AUY as the stock now pays dividends yielding 2.50% at current price, we remain bullish T and will accumulate as dividends yields now at 7.46%, we remain bullish COG and will accumulate as dividends yields now at 2.72%, we remain bullish CLVSVIPS while bearish GPROAPA, and GE. XAG/USD, EUR/USD and AUD/CAD were stopped out. (Note: APA pays 0.54% while GE’s dividend yield is at 0.31% and CLVS, VIPS and GPRO currently does not pay any dividends)

Join us at MFM’s TradeCopy

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.