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Swing Trade Ideas – February 10, 2021

Market View

In the premarket world indices are mixed with USA green, Europe red, Japan red, Hong Kong green, China green and Asia green. US dollar is slightly up and not a factor. Yield curve steeper provides a boost to financials and small caps.  USA indices are all moderately positive with a slight lean to small caps. Today’s Econ events will be USA CPI @ 8:30am and Powell @ 2pm. Powell speaking can cause market turbulence so take care. Markets are statistically extended  with large SPX resistance at 2900. With short term volatility dropping, there is a setup for a continuation of the dispersion trade with indices staying in a tight range while individual names making larger moves. Premarket seeing outperformance in momentum tech and genomics, airlines, emerging markets, financials and small caps. FAANGMT are positive but muted with FB leading and TSLA a laggard. Continue to watch FAANGMT and VIX for large cap direction and pay attention before and after Powell.
Stocks to Watch

TWTR LYFT UAA ENPH CCJ THC KO earnings beat; AYX AKAM CSCO CDAY INCY down post earnings; New relative strength highs APHA TLRY VERU FUTU ACB LYFT CRON QFIN VFF TIGR BIDU CGC PERI; Bitcoin DPW SRAX SQ OSTK MGTI BTBT MSTR RIOT MARA Top PM ETFs ARKG ARKQ ARKF ARKW KWEB JETS XBI EEM XLF TAN IWM XLF SMH TLT PRNT EWZ    

Stock Idea; TWLOTWLO provides a cloud based  communications platform. Fundamentally expensive stock but a fave of tech managers. Earnings Feb 17 with potential run into earnings. Catalyst: JPM target raise. TRP targets 419.8 and 452.36