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Swing Trade Ideas – March 15, 2021

Market View

World markets are generally mixed premarket (7:30EST) with USA mixed, Europe green, Japan green, Hong Kong green, China red, Asia red. Yield curve is slightly flatter and will only become significant if it steepens. US dollar is up .13% which is a slight negative for commodities, which are slightly weaker. Bitcoin is down 6%, which will be a negative for names such as TSLA, PYPL and SQ which are now attached to BTC. Gold is higher, which some think is now inversely correlated with BTC. USA indices are being led by DJIA stocks, which have been outperforming recently due to the lower weighting of FANG and the value tilt. The SPY/QQQ are slightly green and IWM red so setup looks like a rotation into large cap value in the premarket. Travel and Leisure, precious metals, financials are leading and China Internet and emerging markets are lagging. FAANGMT and in particular TSLA and AAPL are the key stocks for large cap indices and the 10yr yield should be watched if trading QQQ as higher yields will be a negative.

Stocks to Watch

Earnings DM ETFs JETS SLV ARKK SMH GLD GDX XLF DIA XLE XLI QQQ IWM TAN KWEB

Bitcoin EBON XNET DPW NCTY SOS CAN RIOT CLSK S&P500 AAL MGM MOS UAL BA WYNN LUV AMD UA VIAC LIN COP AIG AMZN TSLA  Leaders QFIN AMRS ACRS AAL HST SPR FLR BA TCOM DBX WSB Names AMC GME SNDL GOEV RKT NOK PLTR APHA AMD BB GE ARKK TLRY NIO TSLA RBLX RIOT NEWS LLY Negative reaction to Alzheimer’s phase 2 results   Joining the S&P500 NXPI PENN GNRC CZR 

Stock Idea; PEJ

Travel and gambling are leading in the premarket and have been outperforming since Feb. PEJ is one stop shopping for a basket of these names. Daily technical are bullish. Could look for breakout over Friday close 53.66 or an intraday pullback