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Swing Trade Ideas – February 19, 2021

Market View

World markets are positive with USA green, Europe green, Hong Kong green, China green, Asia mixed and Japan red. US dollar is down which is supportive for markets and commodities. Yield curve is steeper which is positive for financials and small caps.  USA markets are being led by small caps  followed by the Nasdaq,  Leading sectors are small cap tech, semiconductors, China internets, airlines, financials and emerging markets. Lagging sectors are energy, gold and bonds.  FAANGMT stocks are positive with TSLA and AAPL outperforming. As usual, the FAANGMT names need to be watched for index direction since the FAANGMT have been weak  Bitcoin names are strong and are well elevated in the premarket. Today is options expiration and once must be careful in the afternoon with stocks with elevated out of the money call options as there will be downside pressure into expiration. Next week can have greater volatility with the large options expiration today

Earnings AMAT ANET MGA DE ROKU CPRT TRIP PLNT DBX APPN Semis AMAT LRCX TSM MU STM NVDA WDC Bitcoin RIOT CAN SRAX BTBT SOS MARA EBON GBTC PYPL  Relative Strength MP CCIV ENDP FCX MU WDC ZNGA  BBT OR WL MP AMN EXPC BFLY GRWG EOSE 

Stock Idea; AMAT

Applied Materials beat earnings estimates and is being upgraded. The semi equipment has been strong aided by the semiconductor device shortage. Look for strength in ASML, LRCX, KLAC and the entire sector to lift (SMH).  Hourly TRP targets 119.98, 122. Extended premarket, look for a pull for entry.