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Swing Trade Ideas – March 31, 2021

Market View

World markets are mixed with USA mixed, Europe red, Japan red, Hong Kong red, China red, and Asia red. Yield curve slightly flatter is causing some softness in financials. US dollar is slightly down which can help equities.  Nasdaq100 is the leading USA index with AAPL and TSLA leading as the rotation play du jour is back into growth and out of value, which has the leading DJIA slightly in the red. Markets are quiet premarket and with most of the world markets in the red, a subdued range day would not be unexpected. Biden will be presenting the infrastructure proposal tonight which is expected to include money for roads/bridges, manufacturing industries, EV / Alt energy incentives and senior care. Construction names in steel and construction are front running the announcement.  Market also appears to think that money will be directed into the coffers of TSLA, solar stocks and my private theory is into semiconductor equipment stocks.  There could also be discussion of taxes so reaction Thursday will be interesting.

Stocks to Watch

ETFs TAN ARKK SMH ARKF IWM QQQ XME SLV XBI GLD XLY XLF DIA XLP Nasi100 WBA AMAT BIDU AAPL TSLA ASML LRCX MU LULU;  WSB Names PLUG APHA NIO TLRY GOEV PLTR TSLA SNDL GME ARKK RIOT HOFV BB Relative Strength X NUE STLD AA DXC NAVI Cannabis GNLN APHA TLRY GRWG VFF CGC 

Stock Idea; CHWY

CHWY reported better than expected earnings with a surprise profit. CHWY has made a huge move in premarket but 15% short float and upgrade with 100 price target and lead to a runaway move.  Look for an opening dip for a speculative continuation move. Caveat is that the appetite for over priced growth names continues after the open