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Swing Trade Idea – August 30, 2021

Market View

•Global markets are mixed with USA green, Europe green, Hong Kong green, China red, Asia green

•Yield curve unchanged, steepening in the premarket

•US dollar slightly lower relative to Euro

•News: Hurricane IDA hit Louisiana but spared offshore rigs  but impacted gas refining; China regulators reducing time that minors can access online games negative for NTES BILI; EU banning non-essential travel from USA due to Delta; AFRM signed a deal with AMZN

•AFRM is a buy now pay later company which is an alternative to credit cards. Traditional cards V MA COF SYF are trading lower. SQ previously acquired a BNPL company. AFRM rocketed after the report on Friday

•USA indices are positive and led by small caps, which were strong Friday. USA indices are short term extended so a pullback/consolidation would not be unexpected. 

Stocks to Watch

Earnings CTLT LI

Indices TAN ICLN IWM XME XLE FANG JETS GDX ARKQ /btc TLT GLD

S&P500 CTLT FCX PRGO MRO GNRC ALB NCLH COG CCL OXY SLB ENPH HAL MRNA ZION DOW SYF KEY ALL

Movers AFRM IDEX EDU TAL NEGG SNP CTLT CRWD LI  AMH ASTR NTES MRNA BNTX EAT DOW SYF COF

WSB AFRM GSAT ROOT PAYA HOFV WKHS WISH ARVL OCGN SOFI DLPN RIOT ASTS CLOV

Stock Idea; BBIG

Vinco Ventures, Inc. operates as a consumer product research and development, manufacturing, sales, and fulfillment company in North America, the Asia Pacific, and Europe.  BBIG is in a gamma squeeze which can lead to much higher levels. Premarket high is 10.59 and current support 7.65.  One can look for  a long up to the premarket high or a momentum breakout above the premarket high. Caution speculative