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Swing Trade Idea – November 10, 2021

Market Setup 

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

•Yield curve steepened post the CPI report

•US dollar rose post CPI report

•News: USA: Core CPI .9% vs .6% expected;  Initial claims 267k vs 265k

•Stocks:  TSLA NVDA and others that have been driven higher with call buying are weak;  DASH, RNG FVRR CARG are 4 earnings winners; COIN down post earnings with trading volumes down 30%; FUBO, UPST, U, GLBE large drop post earnings

•Indices: USA indices are red with IWM outperforming and Nasdaq lagging. USA large cap indices are held in place by market positioning so look for rotation e.g. TSLA down but AMZN NFLX to maintain index. With rates rising post CPI Pavlovian response is buy financials and sell large cap tech.

•Sectors: Leading: GDX KWEB GLD SLV EWZ XLF Lagging: SMH ARKK /BTC BLOK JETS ARKQ TAN ICLN QQQ XLK

•Stocks to watch:

GE TSLA AMZN NFLX  Spec Names: RNG CARG FVRR U UPST SAIL

•Stocks to Watch

Earnings CARG SAIL COIN DASH DNUT DOCS FUBO GLBE NIO PAAS PLUG RNG SGMS SKIN U UPST WYNN SAVA TCEHY PRGO

Indices KWEB EWZ EEM SMH ARKK ARKF /btc TAN JETS BLOK XLE SLV ICLN XLK

S&P500 GE PFE BBWI CMCSA AMZN NFLX NVDA AMD MRNA XOM MU FCX DAL ENPH AAL TER TSLA ETSY

Movers RNG DASH FVRR CARG ML FOUR PUBM VALN GT PRPL POSH UPST COIN MNDY TOST U PLUG NAKD EYE

WSB DNUT ITUB WISH PLUG HUT AFRM SENS RIOT NVDA RBLX PLTR SNDL SOFI TLRY WEN AMD GOEV

Idea SAIL:

SailPoint Technologies Holdings, Inc. provides enterprise identity security solutions in the United States.

Earnings beat and analysts raised target to 65-73. Short interest 10% can provide a lift. Premarket high 56.8