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Swing Trade Ideas – November 20, 2020

Market View

In the premarket world markets are mixed with USA mixed, Japan green, Europe green, Hong Kong green, China green, and Asia green. USA markets are being led by the Nasdaq that is slightly positive with the rest slightly low.  Dual memes are higher Covid case counts with lockdowns and USA treasury seeking to end 8 emergency credit facilities Dec 31. Counteracting is PFE/BNTX applying for emergency use authorization of their Covid vaccine. Hardly a surprise but algos are buying PFE/BNTX and reopening names in a Pavlovian response. Today is monthly options expiration so there may be some gyrations at the open into the close. Setup looks like a range day with caveat that FAANGMT stocks need to be well behaved. Often the week after options expiration is more active, so factor that into decisions. 

Premarket names:

Covid Vaccine PFE BNTX MRNA   Earnings WSM HIBB FL INTU WDAY GSX ; Upgrade CPRI URI CLF Bitcoin GBTC RIOT MARA BTBT MYST;  EVs  NIO TSLA LI XPEV SOLO KNDI RIDE LTHM FSR ;  Momo COTY FUTU 

Stock Idea; CHWY

CHWY is an online pet company that provides pet supplies and medical services. Earnings Dec 8, looking for a run into earnings. Analyst target is $90. Long entry can be taken above $66.95 Thurs high