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  • Swing Trade Idea – October 30, 2020

    Oct 30, 2020 Uncategorized Comments Off on Swing Trade Idea – October 30, 2020

    Market View

    In the premarket global markets are weak with USA red, Europe mixed, Japan red, China red and Asia red. Us dollar is slightly down, which is providing a small boost to commodities. Yield curve is slightly flatter with longer yields higher which is a negative. European GDP is better than expected which is giving European stocks a boost. FB AMZN AAPL GOOGL earnings beat expectations; however market only GOOGL is positive in the premarket.  Many of the companies that beat earnings are currently down in the premarket and the question is whether they are bought off the open or continue to fall.  Should S&P500 continue to fall, the SPY Sept low 319.87 is the obvious targets where buyers may come in. Should this level fail, 300 and the 200 sma are the obvious levels.   Will be looking for possible bounces on FANG and TWTR for short term trades. NFLX popped on raising prices so may be a candidate if QQQ can bounce

    Premarket names:

    GOOGL up on strong earnings  FB AAPL AMZN down on earnings beat;  TWTR down big on earnings miss; ZEN beat; SBUX beat; UA beat; CL beat; STNE beat; CVNA beat; NFLX raising prices ATVI beat BE miss

    Stock Idea; UA

    UA is a beaten down company that is trading higher on an earnings beat. 12.81 is the breakout level to lean against for a long. Would keep it on a tight leash.

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