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Swing Trade Ideas – June 10, 2020

Market View

World markets are mixed ahead of the USA open. Europe is slightly negative, Japan flat and Asia positive. USA markets are similar to Tues, Nasdaq green and Russell2000 red. Yield curve is flatter, with long yields lower, which is negative for financials and hence the Russell, DJIA and S&P500 with more financial companies. Lower long term yields is positive for gold and gold miners which are positive. The USA CPI will be released today at 830am (expect 0%) and Fed statement at 2pm.  Fed should not hurt markets as long as takeaway is an infinite amount of money will be made available; otherwise could be rocky’  The Nasdaq is the premarket leader and the FANG stocks and Semis are strong like yesterday. Cyclicals and bankrupt companies are out of favour at least in the premarket.

Premarket names:

TSLA upgrade to 1000; SNE PS release, FANG stocks;  FIVE  earning; Gold miners NEM GOLD KL etc bounce. CHWY .down on good earnings look for bounce

Stock Idea: TSLA

TSLA target raise to 1000 and Elon is discussing volume production of the truck. Possibility of short squeeze  at all time highs.  Very high call open interest at 1000 strike which may act as a magnet.  TSLA is one of the Robinhood trader faves which can help propel it.