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APAC Monday 21 June 2021

Maintaining the rage from Friday night for me, the markets continued to get hit. Some pretty good moves in the APAC.

Maybe not that bad, as it is still in a week long window of vulnerability, yet they are moves to be respected.

Our open.

Pure luck nailed the low so far (it is lower off screen 7112, I nabbed this about 7114). Active flows. Structure visible (the high, the pivot point - Sat morning (= Friday US) close.

The SPI cushioned the cash open, which reflected virtually all of the Friday selloff in the US. A small bounce, which was quick, got sold off, and that repeated a few times as new lows were made. The Nikkei seemed to react in a similar manner, so risk off for indices.

US futures were slightly positive on the re-open, and then gradually faded. Got hit a bit just before lunch, and stayed weaker after that, down about 0.25%. Gold and silver up strongly, about 0.7% (gold same as silver). Crude oil also up strongly, over 1%. So there is no theme to this - in that the commodities and precious metals (flight to safety or inflation deflation trades) are being bid v Friday/Thursday last week, but indices are continuing to get hit.

The US T continued up strongly too. Someone was correlating a 2% yield and the Nikkei, but I have no knowledge about that relationship. I could have shorted the Nikkei this morning ignorant of it and it not affect... (More)

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PAAS was my favorite Long play on Silver now looks like a good SHORT :)

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$818bn notional single stocks expire today quad witching- specific names cited

GS derivatives research: