OUR PICK – No New Pick

No new pick as we had three losses in a row. There has been consistent outflows from the US equities markets for the past few months and this week is no exception. As of Wednesday the 28th, -$1.37 billion flowed out of US equities while $650 million flowed into foreign equities and $3.95 billion flowed into US taxable bonds. Short term money markets seemed to be preferred as it received more than $15 billion inflows. We see some more room for stocks to fly, but the top is near in our view as breadth is becoming less and less bullish.

Trades updates:  We will continue to accumulate AUY as the stock now pays dividends yielding 2.46% at current price, we remain bullish T and will accumulate as dividends yields now at 7.43%, we remain bullish COG and will accumulate as dividends yields now at 2.77%, we remain bullish CLVS, VIPS while bearish GPRO, APA, and GE. (Note: APA pays 0.53% while GE’s dividend yield is at 0.30% and CLVS, VIPS and GPRO currently does not pay any dividends)

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.