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  • Swing Trade Idea – April 05, 2022

    Apr 05, 2022 Uncategorized Comments Off on Swing Trade Idea – April 05, 2022

    Market Setup pre-800ET

    •Global Markets:  USA, Europe, Japan, China, Hong Kong Asia – Mixed  global set-up

    •Commodities:  Precious metals, oil and natgas, Grains, industrial metals (aluminum, copper, nickel palladium, zinc)

    •Yields: Yield curve steeper – long yields higher; yield curve inverted 2-10; usually positive for financials

    •News: USA: ISM services 10ET; FED Brainard 10ET/Williams14ET Europe:  Services PMI  beat; Sanctioning Russian coal and fertilizer but not oil and natgas; Le Pen election odds improving Emerging Markets:  Peru state of emergency- food and energy riots;  Turkey inflation 61% Ukraine: USA govt stopped Russia govt from paying holders from USA reserves- default risk + contagion risk

    •Stocks: CCL Carnival had busiest booking week in history; GNRC GS upgrade ($410); BTU EU coal sanction; Bitcoin higher positive for (COIN MARA GBTC); INVH Hedgeye analyst short

    •Indices: USA mixed with R2K green and  large caps slightly red. QQQ is at the top of the weekly expected move as are FANGMT. Monday was led by FANGMT and shorted stocks which had large positive moves. Still seeing a bid in shorted stocks in premarket. SPY is in a region between 450-460 without minimal gamma. SPY Support 452 450 445 Resistance 455 457 460. SPY underhedged with support below 450 until 430

    •Sectors: Leading Clean energy, bitcoin, silver, lithium, travel, energy Lagging TLT, Spec tech, China internet, semis

    •Stocks to watch CCL RCL MOS TWTR WFC NIO PDD SBUX JPM TLT INVH Spec Names: MARA BROS BRCC NNOX DWAC

    Pre-800ET

    Indices ICLN /btc SLV LIT JETS XOP FEZ TLT ARKK EFA KWEB SOXX SMH QQQ DIA SPY

    S&P500 CCL RCL GNRC MOS TWTR OXY MRO DPZ PCAR SBUX VFC RL GPS TJX MAS TSLA CSCO

    Movers RCUS CHNG GNRC TEVA MQ MARA TEVA TWTR BRCC DWAC DPZ GME SBUX PCAR LPL OC AMC TOST TSLA

    WSB NIO GME AMC BABA HOOD TSLA RBLX PLTR

    Trade Idea: CCL
    CCL announced best booking week in history and are able to maintain prices. CCL can benefit from reopening post Covid.  Premarket 20.81 for a momentum breakout or look for pullback. Longer term swing idea. NCHL an alternative.  Travel names in general may be strong today.

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