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Swing Trade Idea – October 12, 2021

Market View

•Yield curve  flattening in premarket usually positive for tech and negative for financials

•US dollar slightly lower  which is positive  for equities and commodities

•News: China: CCP investigating financial sector for corruption, other real estate developers failing to make bond payments, car sales down 13% Y-Y; Germany ZEW large decline in sentiment; USA jolts report 10am, bond auction 1pm;

•Stocks: AAL expecting smaller Q3 loss; GSK possible spinoff of consumer division to PE; Upgrades: ABNB MGM SQ

•Sectors: TLT GDX ICLN TAN SMH ARKK leading

•Indices: USA indices have been bouncing since 3am led by Nasdaq and oversold in the premarket so a dip on the open is likely. SPX resistance 4385 and 4400 and support 4342 and 4302. Expect high volatility as long as SPX < 4400.

•Stocks to watch: ABNB AAL MGM PENN LVS (travel) SBSW GFI (gold miners)  SIG (jeweler) INMD (guidance raise) TSLA

Stocks to Watch

Earnings AZZ (beat and raise) FAST(inline) MATX (beat raise) SIG(Raise)

Indices ICLN TLT GDX GLD TAN BLOK SMH SLV XLK ARKK QQQ XLF /BTC KWEB XLI XLP IWM FXY EEM

S&P500 MGM LVS NKE WYNN MRK AAL DAL MRNA TSLA PENN MRO OXY CTXS ADM FB FAST TWTR MO

Movers OCGN QTRX SIG ABNB DNA SQ MRK GME TSLA AA UNG AVTR LITE TREX  FLXN SOFI

WSB OCGN ROOT ASTS WKHS GME FIGS TSLA ANY GEO SOFI

Stock Idea; LVS

Macao is still shut down due to Delta but institutions are heavy call buyers. This is a long term idea but the short term target is 44, which will close the gap. Earnings Oct20. Risky stock since China is aggressive in reacting to Covid cases. Wynn is an alternative with a gap to 100