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Swing Trade Idea – August 11, 2020

Market View

Global markets are positive ahead of the USA open.  US markets are positive along with Europe and China. Energy is positive, yield curve steeper and USD is lower which is positive for equities in general and financials in particular.  The latest vaccine related news is Russia announced that they have developed a vaccine – this provides a catalyst to the recovery trade –  buy the airlines, hotels, cruisers, small caps, industrials and sell gold, momo tech.  The Russian vaccine has not completed Phase 3 trials and data will need to be vetted by others.

Premarket names:

NIO earnings beat  HUYA earnings beat DAL AAL SAVE LUV BA   airlines JPM BAC financials MLCO WYNN LVS MGM  casinos INTC  Gold miners

Stock Idea: NIO

NIO was yesterday’s idea. NIO beat earnings with deliveries +190% Y-Y and positive margin.
Premarket high is 15.88 and previous high is 16.44.  Day trade idea,  expecting premarket dip to set-up a trade to premarket high and above that the previous highs