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STATE OF THE MARKETS
Stocks on dead cat rebound. US stocks rebounded on Wednesday with negative breadth, with Dow (+0.30%), Nasdaq (+0.47%) and S&P (+0.41%) eked out some gains, after ADP payroll reports showed more jobs added in September than expectation (568k vs 428k). Dollar (DXY) continued to climb higher, closing above 94.20, after treasury yields surged higher with the 10Y benchmark jumped to 1.57% before settling lower at 1.53% as New York closed.
In the commodities market, crude retreated below $77.45/bl, after EIA reported more inventories built last week than expected. Gold firmed above $1750/oz as inflation worries continue to wrapped markets that saw rising oil prices for the past six weeks. Elsewhere, iron ore for December was settled lower, around $116.00/tn as global growth concerns weigh on the metal.
In the FX space, short term traders were back on bidding the havens while offering Sterling, Euro and Kiwi. Medium term accounts remained optimistic bidding more Loonie and Aussie while offering Dollar and Euro. Long term investors remained firm in Dollar, Loonie and Swiss while dumping Aussie, Euro and Kiwi. Markets look forward to seeing better unemployment claims (340k vs 362k) on Thursday to get a glimpse of NFP on Friday.
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G8 CURRENCIES SENTIMENTS
| ST | JPY | CHF | USD | CAD | AUD | GBP | EUR | NZD | ST |
| MT | CAD | AUD | GBP | NZD | CHF | JPY | USD | EUR | MT |
| LT | USD | CAD | JPY | CHF | GBP | AUD | EUR | NZD | 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 |
| VYGR | 3.87 | + 56.68 | 203,122.3K | 330.2K |
| SQQQ | 8.47 | – 1.85 | 145,857.4K | 83,997.3K |
| PLTR | 23.58 | + 1.59 | 125,175.7K | 47,513.0K |
| SPY | 434.90 | + 0.42 | 113,032.2K | 67,905.0K |
| GROM | 4.98 | + 49.55 | 96,096.4K | 2,564.0K |
| BTBT | 11.22 | + 8.41 | 90,736.5K | 15,034.0K |
| AAPL | 142.00 | + 0.63 | 83,221.1K | 79,245.6K |
| XLF | 38.60 | + 0.10 | 63,431.1K | 51,871.9K |
| F | 14.12 | – 1.19 | 61,020.3K | 67,514.2K |
| DNA | 10.59 | – 11.60 | 60,428.4K | 4,867.9K |
** % Change here refer to price
WALL ST TOP FLOWS
| TICKER | LAST PRICE |
VOLUME |
% CHANGE | FUNDS FLOW $ |
| AAPL | 142.00 | 83,221.1K | – 6.96 | 11,817.4M |
| TSLA | 782.75 | 14,632.7K | – 25.09 | 11,453.7M |
| FB | 333.64 | 26,443.0K | + 31.57 | 8,822.4M |
| AMZN | 3,262.01 | 2,532.9K | – 16.64 | 8,262.3M |
| MSFT | 293.11 | 28,002.5K | + 4.66 | 8,207.8M |
| AFRM | 133.70 | 53,039.5K | + 169.86 | 7,091.4M |
| NVDA | 207.00 | 29,720.1K | + 17.95 | 6,152.1M |
| MRNA | 302.42 | 17,457.3K | + 12.73 | 5,279.4M |
| AMD | 103.64 | 39,071.7K | – 5.62 | 4,049.4M |
| GOOGL | 2,751.30 | 1,218.2K | – 21.61 | 3,351.6M |
** % change here refers to volume
TOP 5 BLOCK ORDERS
| SYMBOL | PRICE / STRIKE | TYPE | VOL/OI | FUNDS FLOW $ |
| WISH | 4.90 / 5.00 | stock options/call | 96.40 | 195.5M |
| EGHT | 22.91 / 25.00 | stock options/put | 90.48 | 13.5M |
| RF | 1.0745 | FX futures/EURCHF | 100 | 11.6M |
| ZB-TN | 145.1200 – 159.1400 | US bond futures | 7,929 | 121,134.9M |
| CL | 70.20 – 79.20 | crude oil futures | 1,675 | 126.5M |
OUR PICK – No New Pick
We stay on the sideline ahead of NFP. Interesting today that we saw a bullish Dollar with a bullish gold as we observed more flows into gold related funds (GLD, GDX) than aggregate bond funds (AGG). Relative volume on GDX was 1.30 while GLD at 0.83 and AGG at 0.90 and sentiments in GLD was bullish (0.55 put/call ratio) while bearish in AGG (4.64 put/call ratio); surprisingly given the Fed’s narrative of tapering and rate hike. GDX was slightly bearish (1.05 put/call ratio).
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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.
