.

Swing Trade Ideas – February 9, 2021

Market View

In the premarket world indices are mixed with USA red, Europe red, Japan green,  China green, Hong Kong green and Asia red. US dollar is negative but is short term correlated with SPY so may be negative. Yield curve is steeper which is usually positive for financials and small caps. USA indices are statistically extended but lower volatility provides an environment for higher prices into monthly options next week. Premarket the USA indices are marginally weaker with no obvious market cap differentiation. FAANGMT are slightly lower and need to be watched closely today. Financials are weak and not providing support. Strength can be found in small cap growth  and higher short interest names. Bitcoin is slightly lower after a monster move Monday, watch TSLA as it will now move with bitcoin and is a major weighting. With indices at resistance, extended and little short term support, keep your head on a swivel.   

Premarket names:

Indices PRNT ARKF/Q/W/K/G GLD KWEB XBI EWZ XME XLE XLF SMH Earnings CHGG IIVI CGC CARR TTWO NUAN ACM MAS CNC Weed TLRY APHA HEXO ACB CRON CGC Rel Str Highs TLRY PERI MARA APHA RIOT SI MGNI GT QFIN FLGT FCEL DM KC TPR BIDU SE Z News EA buying GLUU ZNGA sympathy; TU deal with GOOGL 

Stock Idea; CHGG

CHGG is an education company that provides text books and online education material. Catalysts: earnings beat, target raise to 124, 11% short float and Wallstbets interest. TRP targets 107, 110.5 and 113.9.