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Swing Trade Ideas – January 14, 2021

Market View

In the premarket world markets are generally strong with USA slightly green; Europe green; Japan green; Hong Kong green; China red; and Asia green. US dollar is up slightly which is a negative. Yield curve is steeper, supporting financials.  USA markets are being led by small caps but generally the large caps are strong with the exception of the FAANGMT. Looks like a dispersion day with rotation out of the megacaps. TSLA is standing out as weak and one trading large cap USA indices should watch  it and FAANGM stocks for direction today.  News catalysts today are: US govt will allow US investors to buy BABA, TCEHY, and BIDU; meme that Biden team would spend $2T on stimulus; JNJ positive vaccine data (phase2); Trump impeached again; ARK starting a Space ETF.  Powell will be speaking again which can be market moving.   

Premarket names:

China PDD BABA TCEHY BIDU GSX JD VIPS  Semis AMAT TSM INTC LRCX SMH AMD Cannabis APHA HEXO VFF ACB TLRY CRON Bitcoin DPW MGTI MARA BTBT RIOT GBTC Space Names SPCE ORTX MAXR Vaccine JNJ NVAX AZN High Volume Premarket Movers DPW GME BINGO MARA FTFT CRSA APHA SPCE BARA INTC TLRY 

Stock Idea; BABA

Chinese internets are up on the news yesterday that USA investors would be allowed to continue to invest in BABA, TCEHY and BIDU. Pre-market high 243.59 can be used as a breakout level. Price is moving into a gap with 245 a pivot level to watch and 250 a potential swing target.