Breaking

Profits Booked Ahead of CPI

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STATE OF THE MARKETS

Profits booked ahead of CPI. US stocks snapped eight days of winning streaks, after the producer price index rose as expected, adding fears to rising inflation. Dow (-0.31%), Nasdaq (-0.60%) and S&P (-0.35%) were sold-off as profit taking became the order of the day, ahead of the CPI reading on Wednesday. The 10Y benchmark dipped to 1.42% as Dollar (DXY) closed below the 94 handle amid safe haven flows.

In the commodities market, crude advanced further for the third day, settling above $84.60/bl as EIA projected a short term demand recovery amid the coming winter. Gold continues to be on bids for the fourth day, breaking up the $1,820/oz barrier ahead of inflation reading on Wednesday. Elsewhere, iron ore dipped further to $94.36/tn as China reported cooling demand.

In the FX space, Yen, Swiss, Euro, Dollar and Aussie were seen synching across short and medium term accounts, in opposite polar to long term accounts, amid rebalancing and potentially turning around in trends as global equities flirted with all time highs. Markets are looking forward to reading higher inflation (5.8% vs 5.4%) and lower jobless claims (276k vs 284k) on Wednesday, plus earnings reports from Wendy (WEN), Disney (DIS) and Dillards (DDS) to name a few. EIA petroleum status will be in the spotlight for crude traders.


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G8 CURRENCIES SENTIMENTS

ST JPY CHF EUR CAD USD GBP NZD AUD ST
MT JPY CHF EUR NZD USD CAD GBP AUD MT
LT NZD AUD CHF CAD EUR GBP USD 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
F 20.12 – 0.15 161,972.9K 68,994.3K
SQQQ 6.31 + 1.94 159,412.0K 93,854.2K
PLTR 24.25 – 9.35 116,639.8K 41,335.8K
AMD 148.92 – 0.83 98,195.3K 59,275.5K
PETZ 6.95 + 14.12 96,294.8K 2,511.2K
RBLX 109.52 + 42.23 93,253.4K 7,051.9K
LCID 44.78 – 2.48 89,785.8K 35,370.6K
EVGO 14.80 + 10.20 88,147.2K 3,403.3K
LAZR 20.12 + 14.97 71,886.5K 2,946.7K
KPLT 5.75 + 38.55 66,105.5K 7,640.2K
** % Change here refer to price


WALL ST TOP FLOWS

TICKER LAST PRICE

VOLUME

% CHANGE FUNDS FLOW $
TSLA 1,023.50 58,929.6K + 81.60 60,314.4M
NVDA 306.57 64,434.2K + 83.41 19,753.6M
AMZN 3,576.23 4,288.3K + 23.22 15,335.8M
AMD 148.92 98,195.3K + 64.24 14,623.2M
PYPL 205.42 63,829.6K + 247.12 13,111.9M
RBLX 109.52 93,253.4K + 777.23 10,213.1M
AAPL 150.81 56,696.0K – 18.18 8,550.3M
MSFT 335.95 21,279.4K – 13.23 7,148.8M
FB 335.37 17,531.3K – 35.55 5,879.5M
LCID 44.78 89,785.8K + 15.58 4,020.6M
** % change here refers to volume


TOP 5 BLOCK ORDERS

SYMBOL PRICE TYPE R/VOL FUNDS FLOW $
HUGS 10.44 equities 178.45 162.2M
QUBT 7.52 equities 159.05 227.9M
GC 1,830.00 gold futures 170 31.1M
ZT 109.2575 bond futures 2,410 26,331.1M
CL 64.73 – 84.55 crude oil futures 4,935 395.1M


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 (19% undervalued) with dividends yielding 2.86%, T (19% undervalued) at 8.36% yields and COG (CTRA) (14% undervalued) yielding 2.31%. CLVS is currently 20% 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 (18% undervalued with 9.18 z-score) while bearish GE (17% 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
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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.