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  • Swing Trade Idea – July 29, 2021

    Jul 29, 2021 Uncategorized Comments Off on Swing Trade Idea – July 29, 2021

    Market View

    World markets are generally strong with USA mixed, Europe green, Japan green, Hong Kong green, China green and Asia green.  US dollar is lower which is boosting commodities and foreign stocks. Yield curve is slightly steeper which is positive for financials and small caps. News: USA GDP and UE claims will be released before the open and may impact markets; FB warned of possible slowdown in adds due to IOS changes; PYPL reported a slow down in new users; Robinhood ticker HOOD will start trading; China stocks bounce on reports that China regulators say that actions against education companies, Tencent music, DIDI,  Jack Ma were isolated incidents.  USA markets are being led by small caps with the Nasdaq lagging. The set-up “looks” like a rotation into value from growth which pundits can attribute to the Fed or regression to the mean fans can attribute to most stocks lagging the FANG. S&P500 is pinned in a range of 4400-4375 and as such a move down in FANG will lead to a move up in other stocks until the pinning ends. Based on the set-up IWM, commodities and earnings names are the ponies to ride; however be prepared for intraday rotations if the US dollar  or yields change direction.

    Stocks to Watch

    Earnings AEM AMT ATUS AFL ALGN AZN AVB CMCSA CP CTSH EXAS FB INVH ICE  IR LC  LRCX MO MRK MT NOW ORLY PPC PYPL SAVE SPGI STM SU TAP QCOM URI VAC XPO YUM

    Indices /BTC KWEB FANG JETS EEM TAN IWM EWZ ARKF ICLN QQQ  GDX TLT Yen ARKG XLV XLP DIA

    S&P500 CTSH F VTRS QCOM VLO YUM FTI OXY FCX GM LKQ TAP YUM APA CMCSA ALGN CTXS PYPL URI LRCX FB TROW

    Movers LC FLGC DIDI AVXL NOK STM RDS KGC ALGN CTXS SAVA IRBT BUD FB ATUS CS MRK

    WSB NOK F TLRY SNDL SOFI NIO HOFV CLF CLNE AMC RIOT AMD

    Stock Idea; F

    Ford is in play today after reporting better than expected guidance and raising guidance.  More importantly they see the chip supply improving. Benchmark capital has raised the price target to $18. Premarket F is trading at 14.52 and $15 is a round number target; however its extended so a pullback at the open would be normal and can be used for a long entry if it holds.

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