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Swing Trade Ideas – January 21, 2021

Market View

In the premarket world markets are mixed with USA green; Europe red; Japan red; Hong Kong red; China green; Asia green. US dollar continues to drop which is usually supportive for commodities and equities; however equities are not reacting today. Yield curve is slightly steeper which is supportive to financials. Energy is weak with oil lower but commodities in general are higher. USA markets are slightly higher being led by the Nasdaq; however S&P500 and Nasdaq are at the top of the expected move for the week and more likely to move sideways or down into the end of week. MSFT, AMZN, GOOGL are well above expected moves for the week and AAPL close to the top so may see muted moves up. Bitcoin continues to correct and is approaching a recent low. USA UE claims were higher than expected and housing starts were better.

Premarket names:

FGM TTM autos are strong; UAL earnings; PLUG FCEL BLDP pullbacks; Semis TSM LRCX AMAT; Bitcoin getting beat MARA RIOT GBTC MGTI; TTD Cramer boost; PCCAR ARK boost; China BIDU PDD NTES TCEHY

Stock Idea; CPRI

CPRI is an apparel company with higher end content which is growing well, especially in China. Stock has moved well off the lows and setting up for a bounce. Upgrade today is a catalyst. Can be treated as a short term or position trade.