Swing Trade Idea – December 1, 2020
Market View
In the premarket world markets are broadly strong with USA, Europe, Japan, China, Hong Kong and Asia green. USA dollar continues to weaken which is bullish for equities. Yield curve steeper is positive for financials and small caps. Oil is lower as OPEC meet and discuss continuation of cuts. OPEC news/rumors will move prices so be aware. Chinese and Japanese econ data was better than expected and European ok providing an international catalyst. Canadian GDP +.8% vs 0.9% slightly weaker than expected. In Canada BMO and BNS reported better than expected earnings with lower loan loss provisions helping. ZM reported great numbers but down premarket. Premarket the reflation stocks including the small caps are strong but FAANGMT are strong. This sets up the potential for a trend day with caveat that S&P500 futures are well above value and potentially can pullback at the open.
Premarket names:
Vaccine PFE MRNA; Bitcoin MSTR RIOT GBTC; High call AAPL PYPL EV / ALT energy LI SOLO XPEV TSLA NIO FSR WKHS HYLN LTHM Weed HEXO FFNTTF GNLN APHA ACB ABEV CURLF BB deal with AMZN; Reopening COP OXY C SLB WFC JPM BAC
Stock Idea; BB
Yesterday’s idea bearing fruit. Deal announced with AMZN. Premarket at 7.18. Possible targets are $7.74 and $9.00 and then $10.00 if the Robin Hooders get involved.
