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Swing Trade Ideas – March 8, 2021

Market View

World markets are mixed with USA red, Europe green, Japan red, China red, Hong Kong red and Asia mixed. Yield curve is steeper with long yields rising which continues to weigh on growth stocks. US dollar is higher which is typically negative for foreign stocks and commodities. Oil was higher on the missile attack in Saudi Arabia but has turned red in the premarket. China stocks are weak with the CCP targeting 6% growth versus the consensus 8%. This is weighing on China stocks as well as commodities like copper. USA senate passed the stimulus bill and it is expected the Congress will ratify.  Stimulus deal has been baked into the market. Bond market is the key for the large cap indices. The FAANGMT are weak premarket and will continue to struggle with rates rising. Bond market MOVE index is at April highs, indicating risk in the bond market.  Premarket the strength is in the DJIA and small caps and weakness is in the Nasdaq, which is a continuation of a trend.

Stocks to Watch

Earnings XPEV ETFs XLF XLE IWM XRT XLI DIA KWEB EEM ARKn GDX QQQ TAN Bitcoin NETE MARA RIOT CAN SINO GBTC SOS MSYT BTBT S&P500 leaders GE MRO DIS CCL MRK WRK DVN RCL GOOGL AMD EL TSLA FTI Relative Strength CPE REZI MRO HSBC WRK APA CVX

Stock Idea; DISDIS is moving in the premarket with news of reopening of the California parks. Stock is uber expensive on valuation but very popular with retail investors. Day trade idea with tight stop. Look for pullback after open. Could benefit from outperformance of DJIA