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  • Swing Trade Idea – April 28, 2022

    Apr 28, 2022 Uncategorized Comments Off on Swing Trade Idea – April 28, 2022

    Market Setup pre-800ET

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

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

    •Yields: Yields lower curve unchanged

    •News: USA: GDP UE claims 830ET, Nat Gas 1030ET; Japan: BOJ reaffirmed YCC – dollar positive Gas: Italian Eni applied to open Ruble account

    •Stocks: FB beat but major decline Y-Y; QCOM beat growth in IOT; NOW tiny beat will be positive for software sector; UPWK rev beat meh guidance; PINS beat; PPC beat;  ORLY miss other auto part co’s down; TDOC major impairment; PYPL met, cut guidance; CAT beat supply chain issues but book to bill accelerating, weak on China comments

    •Indices: USA indices bounced post FB and then rose from midnight and declining since 5ET from overbought. SPY is between 425 and 420 gamma levels with 420 a key support level; QQQ between 3120 and 325 levels. Look for acceleration or bounces at the gamma levels. VIX futures are inverted and with VIX > 30 risk is high.  Vix level corresponds to a > 2% daily move.  General sentiment is risk-off with AMZN AAPL reporting after the close. Be wary of chasing as continuing risk that pops have been sold

    •Stocks to watch FB QCOM PPC DPZ TDOC BTU Spec Names:  UPWK

    Pre-800ET

    Earnings FB NOW PINS QCOM BMRN HTZ HUN MAT PYPL LUV F MA LLY MRK TMO CMCSA MCD

    Indices Faangmt QQQ SMH /btc XLK XBI XLY SPY IWM EWZ KWEB EEM XLF XLI  yen euro SLV ARKK

    S&P500 FB NOW QCOM CMCSA LUV LLY IP CARR NVDA AMD PYPL AMD AMZN ALGN ORLY AMGN CHD AAP AZO

    Movers FB LC PINS QCOM HUN ACHR BMRN PSFE LLY CARR AMZN PYPL TMO AAPL TSLA TDOC ALGN OSTK JKS AMGN

    WSB NVDA AMD NIO AMZN TSLA AFRM NET RBLX PLTR F RIVN PLUG BABA

    Trade Idea: FB
    FB squeezed higher due to very low sentiment in spite of poor earnings. Premarket FB is at the expected move and one could look for continuation higher with premarket high 210 a target or alternative give back the gains. One should take care below 200 which is a level with high call activity. 

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