Short term
Trade view / 07 August 2017 at 3:34 GMT

Macro Monday Tactical Book: Nasdaq looks stretched — #SaxoStrats

Global Macro Strategist / Saxo Bank Group - Singapore Hub
Instrument: CCMP:xnas
Price target: 6200
Market price: 6352

Risking 1% of assets under management to get some negative delta on US equities, which have been looking heavy and a little toppy over the last few weeks. 

We feel we could be on the cusp of a technical pullback, as things looked stretched and exhausted. 

Management and risk description

Risking 100 basis points on this trade. Would look to close the trade, if technicals seem to be changing - that is, we base here for a few weeks, potentially reloading for another leg up. 


Entry: 6,352.

Stop: 6,560.

Target: One: 6,200; target two: 6,120 / ad hoc.

Time horizon: Zero to four weeks 

Nasdaq five-year

Source: Bloomberg 

— Edited by Robert Ryan

Non-independent investment research disclaimer applies. Read more
A compiled overview of Trade Views provided on is found here
yakcay yakcay
Hi Kay. NDAQ:xnas instrument belongs to NASDAQ Inc. in SaxoTrader. Which instrument should we use for this trade?
ChristianK ChristianK
USNAS100.I or an ETF tracker like QQQ
yakcay yakcay
This is USNAS 100.I and its value is not Nasdaq. I'm confused...


The Saxo Bank Group entities each provide execution-only service and access to permitting a person to view and/or use content available on or via the website is not intended to and does not change or expand on this. Such access and use are at all times subject to (i) The Terms of Use; (ii) Full Disclaimer; (iii) The Risk Warning; (iv) the Rules of Engagement and (v) Notices applying to and/or its content in addition (where relevant) to the terms governing the use of hyperlinks on the website of a member of the Saxo Bank Group by which access to is gained. Such content is therefore provided as no more than information. In particular no advice is intended to be provided or to be relied on as provided nor endorsed by any Saxo Bank Group entity; nor is it to be construed as solicitation or an incentive provided to subscribe for or sell or purchase any financial instrument. All trading or investments you make must be pursuant to your own unprompted and informed self-directed decision. As such no Saxo Bank Group entity will have or be liable for any losses that you may sustain as a result of any investment decision made in reliance on information which is available on or as a result of the use of the Orders given and trades effected are deemed intended to be given or effected for the account of the customer with the Saxo Bank Group entity operating in the jurisdiction in which the customer resides and/or with whom the customer opened and maintains his/her trading account. When trading through your contracting Saxo Bank Group entity will be the counterparty to any trading entered into by you. does not contain (and should not be construed as containing) financial, investment, tax or trading advice or advice of any sort offered, recommended or endorsed by Saxo Bank Group and should not be construed as a record of ourtrading prices, or as an offer, incentive or solicitation for the subscription, sale or purchase in any financial instrument. To the extent that any content is construed as investment research, you must note and accept that the content was not intended to and has not been prepared in accordance with legal requirements designed to promote the independence of investment research and as such, would be considered as a marketing communication under relevant laws. Please read our disclaimers:
- Notification on Non-Independent Invetment Research
- Full disclaimer

Check your inbox for a mail from us to fully activate your profile. No mail? Have us re-send your verification mail