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Swing Trade Idea – January 10, 2022

Market Setup

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

•Yield curve slightly flatter

•US dollar higher

•News: Covid: UK new infections peaking, China mass testing port city Tianjin after 2 cases;  Kazakstan order restored stabilizing oil supplies and perhaps improving bitcoin has rate; JPM healthcare conference this week will move stocks; Retail conference this week

•Stocks: TTWO buying ZYNGA; BEAM deal with PFE; BMRN positive drug results; DXCM reduced guidance; LULU reduced guidance; NKE downgrade; VIAC upgrade

•Indices: US indices are lower with selling starting 7ET.  SPY, IWM, QQQ are currently in negative gamma which can lead to higher volatility. USA indices are being led by DJIA with Nasdaq lagging. Premarket the financials, industrials and energy are positive with tech negative. Watch the breadth today as if selling become correlated, larger downdraft possible. SPY 460 is a major gamma level where a bounce or downdraft is possible.

Sectors: Leading: Cannabis China Internet, yen, financials Lagging: bitcoin, spec tech, lithium, semiconductors, FAANGMT

Stocks to watch:  VIAC DISCA NOC TSLA TTWO LULU NKE Spec Names: PLTK(gaming) TLRY

Earnings TLRY

Indices MSOS KWEB GDX  yen XLF EEM SLV bitcoin LIT ARKK QQQ XLK SOXX fang SMH IWM FDN XLY SPY XRT EWZ IGV

S&P500 VIAC CTLT GNRC DISCA EXPE LHX WFC JPM IVZ USB NOC TTWO CAH KNE TSLA NVDA AMD CTSH QCOM

Movers ZYNGA APR MOLN TLRY OCGN BMRN BEAM EXAS DELL TSM NVTA TTWO LULU GME ABNB NKE AMD TSLA

WSB CCJ GME DWAC AMC RIOT NET NVDA AMD HOOD AFRM TSLA SOFI RBLX PLTR AMZN

Trade Idea BMY

BMY is a laggard drug company that may get a bid with the JPM healthcare conference this week. Today announced a $5B buyback and confirmed guidance for 2022. 200sma 63.27 is level that can be used for a long level. Earnings Feb. Call open interest building at 65 which can act as a target