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  • Swing Trade Ideas – December 10, 2020

    Dec 10, 2020 Uncategorized Comments Off on Swing Trade Ideas – December 10, 2020

    Market View

    In the premarket world markets are mixed with USA markets red, Europe  green, Hong Kong red, Japan red, China red and Asia red. US dollar is down which is supportive for equities and commodities. Yield curve is flatter which is negative for small caps and financials. US CPI data and unemployment claims to be released 9:30EST may be market moving. Europe is expected to announce Covid stimulus which may or may not be currency affecting. US FDA will meet on approving the PFE vaccine which may be positive for stocks and PFE/BNTX in general. TSLA continues to correct from an overbought state and JPM repeats their bearish opinion. TSLA unwind is negative for QQQ and by extension the S&P500 and suggest using TSLA as a barometer. FB antitrust is weighing on the stock and therefore the QQQ.  S&P500 is currently at the overnight lows and one should be prepared for a bounce or a sharper move down.

    Premarket names:

    TSLA Continues to weaken, look for a bottom; SBUX upgrade; BIDU continuation; CIEN ADBE earnings LULU pre-earnings;  BBY downgrade; SPCE spaceship blew up; CPRI PVH RL upgrade; GE SEC fine;

    Stock Idea; BUD

    Reopening trade name. Beer sales are increasing month on month as reopening continues. Slow mover but resilient to market weakness. Breakout level 70.70

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