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  • Swing Trade Idea (AMD) – November 18, 2022

    Nov 18, 2022 Uncategorized Comments Off on Swing Trade Idea (AMD) – November 18, 2022

    Color Key: Red- Negative Purple- Neutral Blue- Positive

    Market Setup- Pre 830

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

    •Commodities:  Gold, Silver, Oil and natgas, Grains, Industrial Metals

    •Yields: Yields are higher

    •US$ -.11% Euro +.03% Yen +.19% GBP +0.51%

    •News: USA: Home Sales 10ET Europe: Hawkish talk UK: Retail sales +.6% m/m vs 0.5%

    Stocks: PANW +9% beat lifting security stocks FTNT, CRWD ZS OKTA; ROST +15% FL +13% GPS +8% EPS beat; AMAT +4% beat positive for semi JD +2% EPS beat WSM -8% EPS miss TWST +12% EPS beat with smaller loss

    •General: Leading: EWZ spec_tech, semi, solar, retail  Lagging:  China Internet

    •Indices: USA indices are rising since the European open led by IWM with DJIA lagging. The US$ is lower and yields are higher presenting a mixed macro setup. The SPY displays 397.8 with a resistance of 400 and a support of 395 and 390. The QQQ displays 287.9 with a resistance of 290, 295 and support of 286 and 280. Today, November displays options expirations with 30% of options expiring; however 40% of the daily flow is 0 DTE options. The SPY displays 400 and in my opinion is a major options open interest level which could be a resistance but a move above can lead to a squeeze higher. The Indices are extended in the premarket, and I am looking for pullback in the morning; risk-on set-up with speculative stocks and high beta leading. If this continues, I will look for IWM, ARK names to outperform. Lasty, Semis, retail and security sectors are outperforming

    •Stocks to watch  AMAT JD AMD ROST PANW FL Spec Names ISEE NET

    Pre-800ET

    Earnings ROST FL PANW AMAT GPS JD ATKR BKE SPB TWST  WSM

    Indices EWZ ARKK SOXX SMH TAN ARKF XRT JETS QQQ XBI KWEB TLT

    S&P500 ROST AMAT AMD CAG FTNT WBA META NVDA NKE EXPE NCLH TSLA HPQ SO

    IWM ISEE APLS TWST APPS RUN INSM GME PLUG RH GTLS AR SAVA

    WSB AMD NET GME PLUG NVDA RIVN AMZN TSLA BABA

    Movers ISEE ROST APLS FL PANW TWST GPS PAGS JD AMAT UPST DKNG WSM RH BIDU GFI GDS BABA HPQ NTES 

    My Trade Idea:AMD
    Semis are in play with the market risk-off and AMAT earnings report. The AMD premarket high is 75.86 which in my opinion can be used for a momentum long or I will look for pullback > 75.

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