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Swing Trade Idea – October 13, 2021

Market Setup – Pre CPI

•Global markets are mixed with USA green, Japan green, Europe mixed, Hong Kong closed, China green and Asia green.

•Yield curve  flattening in premarket usually positive for tech and negative for financials. Look for reaction to CPI report.

•US dollar slightly lower  which is positive  for equities and commodities

•News: USA CPI 8:30EDT, FOMC minutes; UK GDP .4 vs .5 MM; China coal import surge

•Stocks: AAPL chip shortages will reduce phone shipments by 10M (Suppliers: AVGO SWKS QRVO CRUS); DAL EPS beat but oil price concerns; BLK beat; JPM beat released $2.1B in reserves;  PLUG partnership with Airbus; QCOM $10B buyback; IP buyback and div cut

•Sectors: Clean Energy, Silver, Solar, China Internet, Gold miners; Tech leading Energy and bitcoin lagging

•Indices: USA indices bounced at 3am and are flat waiting on CPI report and are led by Nasdaq and IWM. Notable that Nasdaq is strong after the AAPL news. SPX resistance 4385 and 4400 and support 4342 and 4302. Expect high volatility as long as SPX < 4400.

•Stocks to watch: AAPL UPST PLUG TTM ANY BB SBSW SLV

Stocks to Watch

Earnings BLK DAL JPM SGH

Indices ICLN SLV TAN KWEB GDX EEM GLD QQQ SMH IWM /btc XLE GBTC

S&P500 QCOM XEL BLK TER LIN NEM NI FCX AMAT ENPH SWKS MNST QRVO DVN MRO VLO COP OXY AVGO

Movers RVNC PLUG SAP VMEO JKS BB GPK BLK NOK TEVA BAC AA WDAY SOFI APEN W MNST DAL AAPL FANG CLOV

WSB ANY PLUG BB CCJ GME TTCF NOK TLRY ASTS OCGN IVR CLOV

Stock Idea; PLUG

Plug is in play today. Catalysts are an upgrade by MS with a $40 target, a partnership with Airbus and an agreement with PSX. Stock has 10% short interest so capable of making large moves. Premarket high 32.65 can be used for a momentum trade or look for a pullback. 34.42 is TRP target 2. 35 is the previous high. Caveat, risky high volatility stock