Breaking

Strong Earnings Boosted Stocks Up

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STATE OF THE MARKETS

Strong earnings boosted stocks up. US stocks received another upside boost after Bank of America reported that 66% of the companies reporting earnings so far have beaten their estimates. Dow (+0.56%), S&P (+0.74%), Nasdaq (+0.71%) and Russell (+0.36%), all sectors in the green with utilities, IT and healthcare leading the gains. Dollar (DXY) was sold off to as low as the 93.50 mark before bidders emerged to close it above 93.80, but the index remains under pressure at writing as risk appetite returns. The 10Y yields benchmark soared to 165 basis points, the highest in five months.

In the commodities market, crude continues its upward trajectory as China reported colder weather that may result in increased demand. The black gold settled near $83/bl as New York closed. Gold remains supported as more than $39m worth of block orders flocked the futures market. Iron ore was little changed, trading in the $123/tn the figure amid staggered production in China.

In the FX space, Yen was seen synching across all horizons, while Kiwi, Aussie, Sterling, Swiss and Dollar were synching across short and medium term accounts. Investors are apparently repositioning themselves as risk appetite in the new quarter is gaining momentum. Sentiments were highly bullish in the short and medium term as the safe haven trios were sent to offers. Markets look for earning reports from Tesla (TSLA), Verizon (VZ), Anthem (ANTM) and Las Vegas Sands (LVS) on Wednesday to gauge Covid impact in the third quarter. EIA crude inventories will be in the spotlight for oil traders.


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G8 CURRENCIES SENTIMENTS

ST NZD AUD GBP EUR CAD CHF USD JPY ST
MT NZD AUD GBP CAD EUR CHF USD JPY MT
LT AUD CAD NZD CHF GBP USD EUR JPY 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
CEI 1.69 + 21.58 381,198.4K 136,882.2K
PROG 3.00 + 0.33 272,890.6K 29,120.1K
KAVL 2.25 + 39.75 153,943.5K 372.5K
FCEL 8.59 – 1.72 133,341.0K 23,411.7K
AVIR 13.82 – 65.96 129,166.9K 1,791.5K
WATT 2.19 + 9.50 84,413.2K 1,230.3K
AAPL 148.76 + 1.51 76,378.9K 79,470.7K
SQQQ 7.42 – 1.98 70,348.1K 87,491.1K
TLRY 11.66 + 15.79 68,798.0K 18,445.9K
BBIG 7.78 – 6.49 53,131.7K 43,635.0K
** % Change here refer to price


WALL ST TOP FLOWS

TICKER LAST PRICE

VOLUME

% CHANGE FUNDS FLOW $
TSLA 864.27 17,381.1K – 8.62 15,022.0M
AAPL 148.76 76,378.9K – 0.49 11,362.1M
AMZN 3,444.15 2,386.0K – 16.40 8,217.7M
FB 339.99 18,786.3K – 17.15 6,387.2M
BABA 177.00 33,538.8K + 37.27 5,936.4M
MSFT 308.23 17,682.1K – 28.12 5,450.2M
NFLX 639.00 7,633.1K + 77.34 4,877.6M
AMD 116.33 39,593.9K – 6.29 4,606.0M
COIN 305.63 14,785.6K + 210.82 4,518.9M
NVDA 222.90 16,147.3K – 30.72 3,599.2M
** % change here refers to volume


TOP 5 BLOCK ORDERS

SYMBOL PRICE / STRIKE TYPE VOL/OI FUNDS FLOW $
PBR 10.34 / 11.00 stock options/call 160.03 531.5M
CONE 77.22 / 90.00 stock options/call 123.85 51.5M
6Z 0.068125 FX futures/ZARUSD 1,959 13.3M
GC 1,768.00 – 1,780.40 gold futures 225 39.8M
CL 80.60 – 82.60 crude oil futures 5,014 409.0M


OUR PICK – No New Stock Pick

No new stock picks as we are at maximum equities exposure. Currently we are holding 8 stocks – 7 longs and 1 short. We are long AUY (20% undervalued) with dividends yielding 2.80%, T (18% undervalued) at 8.13% yields and COG (CTRA) (15% undervalued) yielding 2.11%. CLVS is currently 22% overvalued with -7.19 z-score but Tudor Investment had stepped in recently and we decided to hold. We remain bullish with VIPS (44% undervalued with 5.59 z-score), GT (47% undervalued with 1.28 z-score) and CRON (17% undervalued with 9.18 z-score) while bearish GE (25% overvalued with 1.36 z-score).

For high probability stock picks, please use our Trading Central services.

Note: Cabot Oil & Gas (COG) recently merged with Cimarex Energy to form Coterra Energy (CTRA).

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.