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Swing Trade Idea – November 15, 2021

Market Setup 

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

•Yield curve flatter

•US dollar slightly lower

•News: China: econ data better than expected; Japan: GDP miss; Biden-XI conference call tonight;  Dems voting on $2T social bill this week (maybe); Meme that Powell will not be extended growing; GOP congressman presenting Cannabis bill today

•Stocks: DLTR higher on activist; AMT buying CoreSite;  BA EADSY ERJ Dubai airshow BA has order for some freighters; Elon is still selling shares- watch 1000 level. Look for other FAANGM stocks to be bought to prop up the Nasdaq

•Indices: USA indices are slightly positive led by R2K. SPX Call wall 4700 resistance with support at 4675 and 4650.  Opex this week so the potential for higher volatility late in the week and greater movement in the following week.

•Sectors: Leading: Cannabis bitcoin smallcap tech industrials Lagging: natgas silver energy gold

•Stocks to watch:

MSOS DLTR BA PYPL SPR TSLA OTLY Spec Names: RIOT CGC TLRY

Movers

Earnings LAC OTLY TSN

Indices MSOS /BTC BLOK IWM XLK faangm XLI ARKG IBB XBI SMH ARKF UNG SLV DBC XLE GLD GDX

S&P500 DLTR RMD BA FTV PYPL DG REGN MU TER DAL RCL CAT LRCX MSFT TSLA O AKAM PNW JL HAL WELL APA

Movers BOOT AGTI RIOT DLTR ACM CONE TLRY SPR FOLD BA CGC STEM AZN OTLY PHG TGTX EVGO ASTR CRWD WOOF TSLA

WSB RIOT TLRY BA HUT CLOV SKLZ BODY RBLX SOFI ASTS WOOF TSLA ROOT SDL GSAT NOK OCGN WISH CRSR 

Idea MSOS:

GOP congresswoman is presenting a bill today on legalization. Possibility of Schumer modifying Safe Banking act to Defense bill this month.  Very speculative as a failure of legislation will cause the stock to fall. Caveat that tax loss selling to come. Watch high volume levels for resistance/support.