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Swing Trade Idea – October 05, 2020

Market View

In the premarket world markets are in the green with USA, Europe, Japan and Hong Kong are positive.  USD is weaker, and yield curve is steeper, both which are positive for equities.  Oil is up with the market but commodities are mixed. Main news item is positive Pres. Trump health reports.  USA PMI and ISM data will be released after the market opens. USA markets are currently up broadly with the potential for a trend day, especially if there is alot of short covering. Russell 2000 is leading, continuing the strength from Friday but the FAANGMT stocks are also strong providing broad market strength

Premarket names:

GILD REGN Trump received both;  DKNG secondary ;  BMY buying MYOK; ALB LAC  FVAC NAK WWR PLPL PLG US Govt rare earth initiative;  Alternate energy & EVs NIO WKHS BE PLUG BLDP; Upgrades ATUS SQ INTU DOCU  

Stock Idea; TWTR

TWTR and other social media companies such as PINS have been strong perhaps due to the anti-trust discussion regarding FB and GOOGL. TWTR is receiving high unusual call activity and is approaching a multi-year breakout.  2018 high is 47.6 which may lead to higher levels