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Swing Trade Idea – October 26, 2021

Market Setup

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

•Yield curve flatter with long bonds higher

•US dollar lower which is usually positive

•News: 126/500 S&P companies have reported:  beats on revenue of 2% and on earnings of 12% Average move on beat 0.9%

•Stocks: UPS beat and raised guidance and has been able to pass on higher costs to customers; FB earnings beat, rev miss and $50B increase in stock buyback; GE higher profit; DKNG not buying ENTAIN;  AMD MSFT GOOGL V TWTR TXN HOOD BYD reporting after the close

•Indices: USA indices are overbought in the premarket with Nasdaq leading.  Monday market was driven by a record high gamma squeeze in TSLA. Odds favor a pullback given the extension

•Sectors: Leading: SOCL airlines semiconductors  Lagging: KWEB silver

Stocks to Watch FB GOOGL TWTR NVDA AMD OCGN SKLZ DKNG

Earnings AMKR AXTA CDNS FB ADM CNC GE GLW INMD IVZ JBLU LLY LMT MMM PCAR PHM PNR

Indices Fang JETS SMH QQQ EEM XLI ICLN XLK ARKK /btc XBI SPY KWEB SLV yen GLD

S&P500 UPS NVDA ICE FB HAS NCLH APH FDX PKG GOOGL CCL ANET TWTR GE LVS GLW AM ZTS CLX WM CNC

Movers DKNG TIGR UPS REAL TRU VLD COTY SBSW COTY NVST FB HAS NVS HOOD LOGI PII AWI ENTG UPST UNG CNC

WSB OCGN SKLZ NVDA HOOD PLUG MVIS PLTR HUT BODY AMD NET DWAC

Stock Idea; FDX

FDX is a recovery idea based on the positive earnings result from UPS. Large volume by price gap above to at least 250. Supply chain bottlenecks eventually being cleared should be good for FDX. Costs are higher but can pass them on. This is a longer term idea versus a short term.  UPS is a potential day trade idea if it continues to run after the open.