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Swing Trade Idea – September 23, 2021

Market View

•Global markets are mixed with USA green, Europe green, Japan green, Hong Kong green, China red, Asia mixed

•Yield curve slightly flatter with the 10yr yield rising sharply in the premarket

•US dollar lower which is positive for equities and commodities

•News: USA unemployment claims premarket; MFG PMI 9:45EDT; European PMI lower than expectation; CCP may split Evergrande to protect homeowners; Norway raised rates;

•Stocks: BB higher post earnings, IOT focus, auto slowdown will impact coming quarters; CRM raised 2022 guidance; DRI beat and buyback; FB fell due to AAPL privacy rules impacting effectiveness – stock bouncing premarket

• USA indices rose overnight and being led by small caps.  Breadth is very positive with all sectors positive. In the large cap space the financials are outperforming with long yields rising. Watch the yields today as the rise premarket has been sharp.

•Stocks to watch: SOFI TLRY BB PLUG CRM ROKU ARKK

Stocks to Watch

Earnings KBH ACN BB DRI RAD

Indices ICLN ARKK IWM TAN /BTC XLF XLB SMH XLI QQQ TLT FXY

S&P500 DRI NWSA CAN CCL CRM CCL NUE ALB LVS NVDA AAPL GM FCX TRMB LHX

Movers BB PLUG DRI DADA BE AMC LCID SAGE CAN OVV EAR SPIR VIPS RAD

WSB BB PLUG TLRY HUT AMC SNDL GOEV CLF SOFI NIO ITUB CCJ 

Stock Idea; CRM

CRM is in play today after raising it’s 2022 guidance and providing 2023 guidance. Stock is rocketing in the premarket at 268.45 so one should look for a pullback. TRP target 1 269.67 Target 2 280.17

One can also look at other cloud names and potentially the CLOUD etf.