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Stocks On Dead Cat Rebound

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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.