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Swing Trade Ideas – March 12, 2021

Market View

World markets are generally negative with USA mixed, Europe negative, Japan positive, Hong Kong negative, China negative and Europe negative. Yields have spiked at the long end which has the predictable negative impact to the Nasdaq momentum stocks and precious metals and positive impact on the financials. US dollar higher is not helping commodities, which are broadly negative. Rotation game is underway in the USA with large cap tech weak and market supported by financials. USA indices closed Thurs  extended above the top of the expected move for the week which often leads to muted upside moves and increases the odds of pullbacks.  Keys today are the FAANGMT and TSLA in particular, where 666 is ironically a support level. Financials up and tech down can keep large cap indices in consolidation.  Keep your eyes open for correlation

Stocks to Watch

Earnings DOCU GDRX FIZZ STNE ETFs XLF XLP XLE DIA ARKk TAN SLV GDX KWEB EEM TLT QQQ SMH GLD XLY

Bitcoin BTBT CAN MARA NCTY RIOT XNET MSTR PYPL S&P500 LB USB C WFC BAC TMUS MS ULTA TSLA NVDA PYPL AVGO IRM AAPL Leaders LB X C USB WFC AXP DOW BHC DIS T NUE News NVAX vaccine results good

Stock Idea; DOCU

DOCU reported earnings which beat estimates. Guidance was ahead of estimates but slower growth. DOCU has been upgraded and targets raised to 290 today. DOCU is a popular stock but correlated with the Nasi. Thinking long above 217 if Nasi is supporting.