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Swing Trade Idea – October 6, 2021

Market View 

•Global markets are red with USA red, Japan red, Europe red, Hong Kong red, China red and Asia red.

•Yield curve  steeper with the 10yr yield rising, usually negative for tech

•US dollar higher  which is negative for equities and commodities

•News: Natgas prices in Europe +40% overnight and inventory low; USA ADP to be released 8:15EDT; Another China property developer Fantasia failed a 205M bond payment;

•Stocks: V reducing payment to AAPL on some Apple pay purchases; PLTR won a $832M army contract over BAE; Sweden paused use of MRNA vaccine for people < 30 due to side effects

•Sectors: Bitcoin, US dollar leading. Airlines, emerging markets, China, energy, technology lagging

•Indices: US indices are all in the red after declining overnight and currently bouncing. DJIA is leading and QQQ/IWM is lagging. Previous lows are holding and can be used as a level to lean against. Break below the lows is a serious concern.

•Stocks to watch: PLTR BTBT GBTC

Stocks to Watch

Earnings STZ LEVI

Indices GBTC Yen EWZ JETS ICLN XLE EEM KWEB ARKG SMH XLK IWM XLI HACK ARKQ

S&P500 BIIB COG DPZ STX MRNA AAL FMC NUE OXY ALB MRO DVN CE NVDA DAL UAL ENPH

Movers PLTR BIIB AYI DPZ MANU TAK GOGO SDC UNG STX TEF AMC WISH

WSB PLTR SENS MVIS AMC ROOT CCJ AFRM WISH NVDA

Stock Idea; BTBT

BTBT is a bitcoin miner. That has been attracting high call activity and a candidate to move higher on a call squeeze. Squeezing higher in the premarket with high 11.06.  Previous high is 11.47 is one target. High open interest at 12.5 is a target. Very very speculative name. Would look for dips for a long.