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Swing Trade Ideas – March 18, 2021

Market View

World markets are mixed with USA indices red, Europe mixed , Japan green, Hong Kong green; China red, Asia mixed. Yield curve is steeper post Fed meeting which is negative for tech and positive for financials. US dollar is higher,   which is in theory negative for equities and commodities.  USA markets are divergent with tech stocks weak and financials strong; hence the QQQ is lagging and the DJIA leading and the SPY in between. In today’s trading one should watch the financials as they are supporting the SPY, which is above support and Wed low.  A break below 393 can bring 390 into play, which would be a bounce level. Sector strength is in retail and financials with weakness in ARK ETFs, semiconductors and long bonds.

Stocks to Watch

Earnings ACN beat; CSIQ beat; CTAS beat; DG EPS miss; FIVE beat; GOL rev miss; GTBIF beat; KC rev miss; PD beat; SMTC beat; SNDL beat; WOOF beat; WSM beat; ZTO miss;  ETFs EWZ XLF XRT ARKn TAN QQQ TLT XLY XBI SMH IWM GLD GDX IBB SPY EEM SLV IGV HYG ITB XLI S&P500  ACN PPL CCL FITB BAC C DG TSLA FTI KLAC LRCX PYPL; WSB Names SNDL AMC GME NOK PLUG RIOT TSLA ARKK BB  Leaders UPST WSM AOUT YI STG JG SIG INFI CSIQ FLMN CAN FIVE UWMN AMC OLN FIVE WOOF TM RVLV

Stock Idea; WOOF

PETCO is a recent IPO which had an earnings beat. Company is strong fundamentally. Short interest > 30% can provide a catalyst for a large move up. Look for pullback on open for a long. Speculative name.