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Swing Trade Idea – November 12, 2021

Market Setup 

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

•Yield curve slight raise in middle

•US dollar minor change – Pound higher

•News: USA: JOLTS and consumer sentiment premarket, Williams (loose cannon) 12:10; Dutch considering lockdown; China singles day growth < 10% for first time;

•Stocks: JNJ splitting into 2 companies; Toshiba splitting into 3; BIIB positive data; AZN inline will increase vaccine prices; Cannabis stocks moving; TSLA Elon still selling; FTCH  Richemont discussions

•Indices: USA indices positive led by R2K. SPX resistance into  OPEX 4700 and negative gamma flip 4630. QQQ is at bottom of expected move for week which may be a floor if TSLA is behaved. 1000 is the critical level for TSLA to hold today.  Coming week will tend to have increased volatility

•Sectors: Leading: Cannabis Healthcare fang ICLN airlines small caps Lagging: UNG silver, gold miners, energy

•Stocks to watch:

JNJ TSLA NVDA  BIIB  BABA RIVN SOFI LH Spec Names: SNDL FTCH TLRY RIDE

Movers

Earnings ARRY BLNK FLO LAZR PAGS AZN BKKT BKSY CPNG

Indices MSOS XLV FAANGMT ICLN JETS IWM QQQ DIA XLK UNG /btc SLV GDX XLE KWEB EWZ GLD SLX

S&P500 JNJ BIIB CZR LH WDC PENN DIS MGM MOS LIN AVGO FB HPE MRNA NVDA MRO OXY ETR SO IP NEM

Movers SNDL FTCH HYZN TLRY JNJ DOCN FTEK DOCN BKKT CRCT PENN HUT RIDE CPNG HPE AZN MT UNG

WSB SNDL TLRY GOEV HOOD HUT ROOT SOFI NIO ASTS AFRM NVDA OCGN RBLX

Idea MSOS:

MSOS is a USA focused Cannabis company. Worst sector of the year is now in play with GOP showing interest in some form of legalization. Longer term idea but potential for a move in the next 2 weeks. Caveat tax loss selling EOY.SNDL TLRY active premarket but other names are fundamentally better.