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Swing Trade Idea – September 15, 2020

Market View

In the premarket the global indices are again positive with USA, European, Japan, China and Asian markets all positive. Oil is higher which is positive for markets. USD lower is positive for foreign markets and commodities which are generally stronger. Yield curve is steeper (TLT lower) which is positive for financials and small caps. Econ data from China continues to be positive with retail sales growing and above expectations. The vaccine coming meme is strong, which is generally positive for equity markets, reflation stocks and vaccine names in particular, which is juicing the biotech space. AAPL has an event at 1pm today where a new watch and ipad will be announced with a potential for 5G phone discussion. AAPL may run into the event and there will be a reaction that can move AAPL and it’s suppliers.  Nasdaq stocks are the leaders in the premarket with FAANGMT the names to be watching.

Premarket names:

NEE stock split fever;  BNTX German $ PFE will be discussing today; Miner 49ers SBSW GOLD KL  RIO(upgrade) ; TSLA NVDA huge fomo call buying;  NVAX increase production; FCAU  merger update; MMM positive guidance

Stock Idea; KWEB

Kraneshares KWEB is an ETF that holds a basket of tech focused Chinese stocks. The large cap Chinese internet names have good fundamentals and China economy is recovering (according to China). KWEB crossed above the 50sma and is back above the 20ema. Thinking long leaning against the 50 sma.