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Swing Trade Idea – August 18, 2020

Market View

Global markets are slightly positive in premarket with USA, Europe, and China green and Japan slightly down.  Nasdaq is leading in the USA but overall looks like a flat open. Yield curve is slightly flatter and energy neutral so overall neutral. USD is lower providing a boost to some commodities, in particular precious metals, coffee, lumber and nat gas.  Earnings reports were retail focused and generally positive; however HD WMT were extended pre-earnings so expecting giveback of premarket gains. Retailers are having sympathy bounces. FATANGMN are mixed with AMZN TSLA and NVDA strong in the premarket.  .

Premarket names:

GOLD KL PAAS GFI  goldminers  SE earnings  DBX TSLA going to moon NVDA always up ORCL up on tiktok may be a fade ZM premarket run DOCU upgrade TGT LOW BBY pre-earnings received a pop from WMT, HD  JD continuation

Stock Idea; SE

Sea limited provides digital entertainment and e-commerce in SE Asia. SE beat on revenue but missed on earnings. SE has been a popular hedge fund stock. Short interest 45% is potential rocket fuel. Premarket high 146, look for a pullback for entry or above 148 all time high