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Swing Trade Ideas – December 11, 2020

Market View

In the premarket world markets are broadly negative with USA, Europe, Japan, China and Asia in the red. US dollar is up slightly which is negative for markets and the yield curve is flatter which is negative for financials and the small caps. Latest media memes: Europe is weak with no-deal Brexit a concern and USA held up by inability of politicians to agree on the stimulus. FDA panel approved PFE vaccine which normally would be a positive. US markets are setup for a potential trend down but a bounce would not be unexpected on the open as indices are moving off the overnight lows. Financials and large cap tech are both weak in the premarket, which is a poor set-up. We will need to watch the open to determine whether they want to bounce or sell it with the FAANGMT stocks the key. Keep your head on a swivel

Premarket names:

DIS more streamers;  PFE/BNTX FDA panel approves vaccine; SNY/GSK vaccine delay;  AVGO COST ORCL LULU beat; PLAY FIZZ MTN miss; NIO 60M share issuance; Bitcoin GBTC ;  
 

Stock Idea; TTD

TTD provides software for ads in streaming video. Thesis is will benefit from DIS streaming numbers. It will likely be weak at the open but a bounce may provide a day trade opportunity. Would look for long opportunities above vwap assuming QQQ and TTD bounce today. ROKU is another name to watch with the same thesis.