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Swing Trade Idea – September 1, 2021

Market View

•Global markets are positive with all markets positive

•Yield curve steeper with long yields rising. Usually negative for FANG and positive for financial

•US dollar lower is helping gold

•News: USA ADP missed 374k vs 660k; USA mortgage applications -2.4%; China Caixan MFG PMI 49.2; China boosting support small and medium businesses; European PMI good but German retail sales large miss; OPEC meeting

•Stocks: CRWD earnings beat and raise but stock pulling back; NIO cut Q3 guidance due to chip shortages, other Evs weak

•USA indices are bein led by small caps with yield curve steeper and a general risk off meme. SPX range into Sept OPEX 4450-4550

•FAANGM stocks are generally strong with AMZN leading. FB is down following a downgrade. TSLA down with the NIO forecast

•Leading sector ETFs are KWEB Bitcoin and financials

Stocks to watch: SKLZ AMBA CRSR WFC CRWD  FB AMZN

Stocks to Watch

Earnings CRWD PLAN CPB AMBA PVH

Indices KWEB /BTC IWM EWZ XLF JETS XLE ICLN SPY XLI FANG ARKK XLV TLT TAN AGG GLD

S&P500 PVH WYNN MRO LVS OXY CCL MRNA BAC PHM ALB FCX FB HD TSLA

Movers AMBA CONN RUN PHG CRSR GME RDS PLUG BABA DY NIO CRWD XPEV FB DADA

WSB TTCF SKLZ ROOT GME ROOT CRSR ITUB PLUG WKHS SPCE TLRY BB NIO SENS AFRM SENS HOOD GOEV SNDL

Stock Idea; AMBA

Ambarella, Inc. develops semiconductor solutions for video.

AMBA reported an earnings beat and raised forecasts. Analysts have raised forecasts substantially. Premarket high is 115 and low is 108. One can look for a pullback for an entry with the premarket high the first target. Swing target 137