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Swing Trade Idea – May 10, 2021

Market View

World markets are mixed with USA mixed, Europe green, Hong Kong red, China red,  and Asia.  US dollar lower positive for commodities. Yield curve steeper is positive for financials. Pre-market setup is for the reflation trade with metals, steel, industrials leading and tech lagging. Big news is a cyberattack on the Colonial pipeline which supplies half the fuel to the US East coast and is currently not operating. FEYE is bid up as they are helping with the cyberattack investigation. It is worth watching the security stocks for a bid today. USA market is mixed with DJIA green and Nasdaq/Russell2000 red.  FAANGMT are weak with GOOGL and FB receiving rare downgrades. S&P500 is short term stretched after the Friday surge but well supported above 4170. Nasdaq and Russell2000 have more room to the upside should markets decide to rotate back.  FB and GOOGL could be watched for the BTD which is expected and a lack of one will be telling for the Nasdaq. 

Stocks to Watch

Earnings BNTX COTY MAR PRTY TSN WB

Indices SLX XME SLV EWZ MSOS XLE XLB HACK GLD DBC XLI DIA XLP KWEB ICLN SMH FANG ARKK QQQ EEM TLT TAN

S&P500 FCX J NUE OXY VTRS PXD KMI COP MAR FB GOOGL FTI ORCL WELL TFC GOOGL MET INTC

Movers BNTX PRTY INO IHRT WB AMC GEO TEF AG MGI CEVA NVAX COTY CCO IMGN MAR PLTR DB KOS BABA FB TSM

Stock Idea; FEYE

FEYE is in play this morning with the Colonial cyberattack.  Premarket high is 20.58. Can look for a pullback when the market open or a move above the premarket high for a long.

Other security stocks may also be bid. HACK is an ETF of security stocks.