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Swing Trade Ideas – February 11, 2021

Market View

In the premarket, world indices are positive with USA green, Europe green, Japan red, Hong Kong green, China green and Asia mixed. US dollar is flat and not a factor. Yield curve flatter is negative for financials and small caps.  USA indices are all moderately positive with a slight lean to the Nasdaq. Markets are statistically extended but expecting SPX to trade in a tight range 3883-3931. 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, China internets, emerging markets, silver and semiconductors. FAANGMT are positive led by TSLA that seems to now be trading on bitcoin, which is strong.
Stocks to Watch

Z TPX PACB BWA ZNGA YETI KHC VIRT BAM earnings beat; TAP UBER LUMN QSR CERN LUMN MGM down post earnings; New relative strength highs ACB CLVR VFF APHA FUTU TLRY CRON HEXO OPEN PACB NCTY AMRS GEVO EXPC BPTH EH QFIN CCJ  Bitcoin SRAX MSTR MARA NCTY CAN RIOT BTBT DPW SQ PYPL Top PM ETFs PRNT ARKF ARKK EWZ ARKG ARKW ARKQ TAN EEM KWEB SLV SMH FDN XLE JETS AMLP

Stock Idea; IRBT

Irobot is a manufacturer of robotic vacuum cleaners. Catalyst, beat earnings and raised guidance. 23% short interest so capable for a parabolic move; however risky stock so handle with care. Pullbacks at open would be suggested. TRP target 142.5, 160.72 on hourly chart. 200 all time high.