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Swing Trade Ideas – December 30, 2020

Market View

In the premarket world markets are modestly positive with USA green, Europe green, Japan green, Hong Kong green, China red and Asia green. US dollar is lower, supporting equities and commodities. Yield curve is steeper which is positive for financials and small caps. Meme du jour is debate on increasing the USA payment to $2000,  however the $600 cheques are being made. Higher payments is likely negative for the US dollar  but may be priced in.  On Tues USA markets  again had poor breadth and were selling off the strong performers and buying a couple of FAANGM to support the large cap indices. Today there is no obvious weakness and continued strength in TSLA AAPL and AMZN. AAPL and AMZN are extended so look for different FAANGM to be bought to support markets barring broad buying. China stocks surged Tues with the meme that the CCEP were finished punishing BABA and in the premarket China stocks are strong. Evs, genomics, bitcoin, financials and silver names are also in play today

Premarket names:

AZN UK approval boost; AAPL AMZN  strength; SPACs DMTK RMG OAC LAZR SBE LGVW;   EV XPEV FCEL LI LIT LTHM NIO FSR TSLA PLUG KNDI ; Bitcoin BTBT MARA RIOT NETE; Genomic BEAM LGVW EDIT TWST; China BABA BIDU TCEHY PDD JD;  Silver

Stock Idea; SilverSLV is poised to breakout higher. One can either look for a break above 24.90 or look for dips as long as 24 holds.