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Swing Trade Idea – November 5, 2021

Market Setup 

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

•Yield curve slightly flatter

•US dollar higher, usually not positive for equities

•News: USA non-farm payrolls 830ET; Europe: retail sales miss, industrial production miss; Germany Covid infections rising; China: Kaisa missed payments on wealth products

•Stocks: PTON miss and lower guide; ABNB EXPE beat travel improving; PFE Covid pill better than MRK (MRNA MRK RGEN BNTX down); Good cloud tech earnings BIGC DDOG BILL CFLT; PENN dropped on a Portnoy hit piece Thurs

•Indices: US indices are being led by R2K and are all above the expected move for the week. TSLA and NVDA have been in a mammoth call squeeze and driving the indices higher and thus pay attention to these names today with weekly options expiring. Risk is greater than reward

•Sectors: Leading: Airlines, Energy, small caps, Cannabis, industrial Lagging: clean energy, biotech (MRNA)

•Stocks to watch: EXPE ABNB UAL PFE PENN BIGC BILL TSLA NVDA AMD PTON

Stocks to Watch

Earnings ABNB AIG ANGI ATUS BE BIGC BILL CC CFLT DDOG DVAX EOG EXPE FSLR GBT IHRT BRK CGC DKNG ELAN ENB FLR KIM MGA

Indices JETS MSOS XLE IWM SMH XLI IBUY GDX KWEB IGV ICLN IBB XLV yen

S&P500 EXPE PFE NWS RCL UAL FTNT EOG AAL RCL DAL LYV ALK MCHP BKNG LVS MRK MRNA REGN MOS CTXS GILD

Movers BILL FROG LGF GPRO CFLT FNKO ABNB SHAK PINS SRPT PINS YELP NET LGF UBER BA BP PTON MGA

WSB OCGN NET NVDA AMC BA AMD F REE GOEV BB GSAT RKT AFRM SENS BGS SOFI DWAC SDC

Idea PFE:

PFE announced Phase 2/3 antiviral Covid pill with 89% efficacy.  Timely as European and China Covid cases are rising. In addition USA has approved jabs for children. Premarket high is 49.6 which can be used for a momentum long. Alternative is to use a pullback for a long. 51.86 is the previous PFE high which is a reference. Note: MRK, MRNA