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Swing Trade Ideas – December 23, 2020

Market View

In the premarket world markets are positive with USA green, Europe green, Japan green, Hong Kong green, China green and Asia green. US dollar is weaker and yield curve is slightly steeper which is positive for markets. USA futures dipped and bounced on a WH tweet concerning the stimulus bill, could be intraday movement today with additional tweets. USA has several econ reports: durable goods, personal income, UE claims at 9:30 EST which can move markets.  Premarket the Nasdaq is lagging with FAANGM flat and TSLA weak. S&P500 is generally positive and with macro set-up it looks like a range day for large caps. Small caps continue to lead and the smaller tech stocks are outperforming in the premarket. FAANGM and TSLA are the keys to watch with TSLA weakness a concern for the large cap indices

Premarket names:

PFE shipping 100M more vaccines;  XOM SLB CVX KMI  energy bounce; PYPL SQ; MGA JV with LG for EV; Momo names MGNI FCEL NK DQ JMIA VSTO CLDR PLUG SPWR RIOT PACB RMG LMND ENPH VUZI GME; TSLA weakness

Stock Idea; REAL

REALREAL is an online marketplace for consigned luxury goods. Baird upgrade to 23 is a catalyst along with 13% short interest  and low float.  Online specialty retail is in favor as are small caps with higher short interest. Possible day trade with breakout over 22.