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Swing Trade Ideas – January 4, 2021

Market View

In the premarket world markets are mixed with USA green, Japan red, Europe green, Hong Kong green, China green and Asia green. US dollar is down significantly which is boosting commodities and equities. Yield curve is steeper which is positive for financials and small caps.  Precious metals are strong with the lower US dollar but oil is fluctuating as OPEC meets to set production levels.  US index strength is in the Russell2000 and DJIA but all indices are positive. US large cap indices are being lifted by TSLA and AAPL which are two key names to watch for large cap direction today. Bitcoin is lower but bitcoin stocks are strong. First day of the month of a new year is usually strong but there is a tendency for strength in previous losers and weakness in previous winners so keep your head on a swivel.

Premarket names:

TSLA NIO XPEV LI WKHS TSLA NIO XPEV announced deliveries; Lithium LTHM SQM LIT;  TDY buying FLIR;  Energy OXY XOM VLO;  Semis TSM QCOM MU Bitcoin  MARA BTBT MGTI RIOT DPW GBTC SRAX MSTR  SPAC CURI IPV KXIN IPOC TTCF FSR GHIV VLDR

Stock Idea; DXC

DXC is a high unusual call activity name breaking out from a rising channel. High call volume in Jan15 25-30 calls.  DXC is in the IT consulting business and reports Feb5