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Swing Trade Idea – February 7, 2022

Market Setup 

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

Yields slightly flatter

US dollar lower c.f. commodity currencies and Yen higher c,f pound, Euro

News: China: Caixin services PMI +; German Industrial Production -; Lagarde speaking 1045ET

Stocks: PTON  rumor of AMZN acquisition; SAVE and Frontier merger; BABA SEC filing that suggests Softbank (25% owner) preparing a block sale

Indices: USA indices have been in a tight range since Sunday night, dipping at the 2am European open and currently moving higher to recover. It’s normal on a Monday for a rise into the open, suggest watching the Fri highs to judge whether the market is still in sell the rip mode and the premarket lows to judge if the market is going lower  Key levels: QQQ 360 SPY 450.

Sectors: Leading: bitcoin silver airlines spec_tech faangmt Lagging: energy

Stocks to watch: PTON SAVE TSN ON  BABA ZBH Spec Names: MARA SWI SNOW

Earnings ON SAVE TSN ZBH

Indices BLOK SLV JETS GDX TAN ARKK SOXX faangmt GLD QQQ XOP XLE ICLN EEM

S&P500 TSN ALK HAS DAL BBWI AAL UAL DIS TSLA CCL PYPL LUV FCX NDAQ FB ZBH L SWK APA F NI DVN

Movers PTON SAVE AMC LC SNAP DIS SE HAS FB TSLA QGEN BLDP ZBH LNOV SPOT

WSB AMC PLTR RBLX NET CLF CCJ AFRM BABA SPOT F

Trade Idea PTON

PTON is in play on rumor that AMZN may acquire.  Premarket high 35.39, low 29.16.  Will be very active today in both directions. 35 is a major call open interest level that can be used as a level to lean against.