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Swing Trade Idea – February 11, 2022

Market Setup 

US markets red, Japan green, Europe red, Hong Kong green, China red, Asia green

Yields: 30yr yield slightly lower overnight but rising in premarket

US dollar higher but pulling back in premarket

News: UK GDP m/m -.2% vs -.5%; USA Consumer sentiment 10ET 67% expected;

Stocks: Positive earnings reaction: EXPE GDDY GT HUBS NET Z ZEN Negative earnings reaction: CC CFLT CLF UA UPWK;

Indices: Indices slid overnight and then turned higher with S&P500 rising 0.9% . SPY is back to volume resistance and pivotal 450 level. High put buying Thurs can lead to a strong bounce higher today with targets 456 and 460 but a drop below 445 would lead to 440. Market is favoring the beaten down spec stocks which is indicative of a risk-on psychology. Call buyers are betting on the rapid rate increase fear to be overdone.

Sectors: Leading: EWZ TLT XOP ARKK XBI Lagging SLV XLF XLB

Stocks to watch: EXPE NET Z ZEN CLF Spec Names: BE AFRM

Earnings BE CC CFLT CLF EXPE GDDY GT HUBS NET UA UPWK Z ZEN

Indices EWZ TLT XOP XLE ARKK ICLN EEM GLD XBI GLD /btc LIT SLV XLF XLB XLK

S&P500 EXPE MPWR DVN BIO AMD OXY  DXCM UA NUE TXN K FCX TWTR WFC

Movers Z HUBS ITUB EXPE NET ZEN UL ARES G AFRM CLF TWST BL UA MTL K KO

WSB NET BABA SOFI HOOD AFRM CLF GME NIO PLTR CCJ

Trade Idea EXPE
EXPE earnings beat and upgrades 200-260. Reopening stocks hot and EXPE benefiting. Premarket high 214.12 can be used for a momentum buy or look for a pullback. Stock has been on a run so pullback would not be unexpected. Can watch BKNG airlines and cruise lines as well.