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Swing Trade Idea – October 19, 2021

Market Setup

•Global markets are green with USA green, Japan green, Europe green, Hong Kong green, China green and Asia green.

•Yield curve steeper in premarket which can be negative for tech

•US dollar sharply positive  for equities and commodities

•News: US dollar lower boosting everything; Wind increased in Europe reducing electricity prices; Powell under scrutiny for trading;

•Stocks: JNJ raised profit fcst; TRV EPS beat; WMT added to GS conv. List; PG warned earnings hit by freight and commodity prices LOL! JPM cut AAPL forecast;  FANG stocks on fire ahead of earnings report; bitcoin ETF BITO will start trading – may impact COIN

•Indices: USA markets are positioned strong risk-on with very speculative names strong in premarket.  Indices are very stretched with implied volatility sharply lower often leads to a pullback so momo can be traded but be wary for a reversal out of the blue. SPX 4400 is an important level to hold. Breakout above SPX4500 unlikely but can lead to a large move higher.

•Sectors: Silver and gold, China internets, ARKK (spec tech that loses money), Biotech, bitcoin

•Stocks to watch: TSLA NFLX FB BITO HUT NIO ARKG/XBI CCJ XLE

Stocks to Watch

Earnings BK ENB ERIC FITB HAL JNJ ONB PG PM STLD SYF TRV

Indices SLV KWEB /btc EEM ICLN GLD XLE ARKK XBI ARKG IWM HACK JETS TLT

S&P500 DOV TRV MRK WMT ALB MRNA OXY FCX MRO DVN APA RMD PENN NEM PG JNJ MAR CL KMB

Movers HRMY UAVS DOV BNTX WMT TREE CHPT OXY MRNA UPST KOS CRSP TASK KRG PG ERIC JNJ

WSB HUT RIOT ANY CCJ NIO PLUG CLF SPCE

Stock Idea; WMT

WMT had a large move Monday and has been added to the GS conviction buy list. Moved above the 200sma Monday. This would be a short term/swing trade as companies like WMT will have issues with wages and commodity prices. Earnings Nov16.  TRP 2 147