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Swing Trade Ideas – December 28, 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 slightly negative and is positive for equities and commodities. Yield curve steeper is a positive for financials and small caps. Oil higher is a positive for equities.  Meme du jour is the signing of last week’s stimulus package which is an apparent catalyst to buy stocks. US stocks are broadly positive, led by small caps and financials. FAANGMT stocks are being led by AAPL and AMZN  and strength after the open in FAANGMT can lead to a trend day to test 3750 resistance. Premarket strength in genomics, travel and leisure; Alt energy and EV, Energy and SPACS. Markets extended at open so one should be prepared for a pullback at the open and alternatively for a trend day should 3750 be exceeded and shorts have to cover.

Premarket names:

AZN Covid UK approval soon;  MGA car parts strong; Travel and Leisure CCL UAL AAL NCLH; Silver PAAS WPM; Genomic PACB CRSP EDIT NVTA; Bitcoin MARA RIOT MSTR DPW MGTI; EV and Alt Energy FCEL PLUG WKHS RIDE BLDP LIT; SPAC QS MP IIPOC RMG GHIV THBR GIK BF LCA LAZR 

Stock Idea; PRTS

Carparts.com is an online car parts retailer of aftermarket auto parts.    PRTS has been seeing high call activity which may point to higher prices. Look for breakout over 13.17 on daily chart to participate.