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Swing Trade Ideas – April 9, 2021

Market View

World markets are mixed with USA mixed, Europe mixed, Japan green, Hong Kong red, China red and Asia mixed. Yield curve is steeper which is positive for small caps and financials but negative for large cap tech. US dollar is higher which traditionally is negative for equities and commodities. Precious metals are weak with yields and US dollar rising.  USA markets are very flat with little catalysts aside from the rise in rates. Rotation du jour is set-up for the reopening stocks at the expense of the large cap techs i.e. small caps, financials, cruisers, airlines. Large cap indices (QQQ, SPY) are above the top of expected weekly moves so muted movement may be muted. SPX  range expected to be 4100-4050 with 4070 the top of the weekly expected move.  There has been a pattern of late in the day surges so an idea (not a reco) is index call options expiring today purchased 3:15-3:30.

Stocks to Watch

Earnings JKS EPS miss;  LEVI beat; Indices XLF IWM JETS XLI ICLN ARKF DIA XLY SPY SLV EEM GDX GLD TLT TAN EWZ FXY QQQ

WSB Names RIOT TLRY APHA GOEV PLTR GE BB AMC DLPN HOFV Premarket leaders SOGO ASO TRQ GTIM SCHN DAN MSTR HON OKTA SCHW UPST TLRY NCTY GS BAC STLD X DAL CLF UNH Bitcoin MARA BTBT MSTR RIOT EBON OSTK SOS

Stock Idea; SCHW

SCHW is reporting earnings Apr 15. Analysts are raising estimates to $79-$80. Looking for a run into earnings with many financials reporting next week. High trading volume should benefit SCHW. Today we may see further moves up in banks like BAC but need to watch for the rotation back into tech so watch the yield curve and keep your head on a swivel