.

Swing Trade Ideas – February 22, 2021

Market View

World markets are down in the premarket with USA, Europe, China, Japan and Asia red.  US dollar is lower which remains a positive catalyst for commodities and equities. Yield curve is flatter which is a negative for equities and financials though long yields are still in a pronounced  uptrend.  Commodities are generally higher due to the lower US dollar and supporting the reflation/reopening narrative. Nasdaq is the lagging index with FAANGMT stocks continue to be soft and are the keys for the large cap indices. TSLA and AAPL are the two weakest with AAPL below the 50SMA and TSLA testing it. Sector leaders are airlines, gold & silver miners and commodities while laggards are Brazil, solars, small cap momo tech, semiconductors and consumer discretionary.  With the options expiration last week, the markets are free to move from the tight trading range of the last few weeks. SPY expected move for the week is 399-382; QQQ expected move is 339-322. The expected moves are levels where reversals can occur, and breaks can lead to much larger moves. 

Stocks to Watch

BA engine issues, RTX is the supplier;  Goldminers GFI PAAS AG HL WPM KGC ; KSS activist investor;  Travel AAL DAL UAL SAVE NCHL CCL; Earnings DISCA  ;  MOMO Green CCIV GME VUZI FCX SCCO PLTR EH CRSR

Stock Idea; VUZI

VUZI designs and sells augmented display devices. High short float name which can lead to large moves. Not in a major index which can allow it move independently. Daily breakout above 17.73. Highly speculative name, would look for pullback on open and reversal for a long