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Swing Trade Idea – March 10, 2022

Market Setup

•Global Markets:  USA, Europe, Japan, China, Hong Kong Asia

•Commodities:  Precious metals, oil and natgas, Grains, industrial metals

•Yields: higher and curve steeper – pre CPI print but higher yields is negative for equities

•News: Russia-Ukraine: Talks stalled; Europe: Banks-billions of Russia risk, ECB news 830ET re: interest rate and bond buying plans; USA CPI 0.7% m/m expected. Both ECB and CPI report can move interest rates and EUR/USD

•Stocks: AMZN 20:1 stock buyback and $10B buyback (.6%) Earnings: CRWD beat and raise MQ ASAN BEKE JD 45% EPS beat LAC.

Indices: Pre-CPI and ECB USA indices are steadily pulling back after Wed short squeeze. SPY 422.5 premarket with weakness in both tech and financials which can change post ECB and CPI.  SPY support 420 415 Resistance 425 430 Vix futures 33.14 rising and term structure inverted so risk remains high.  Commodities strong on Russia-Ukraine concern

Sectors: Leading: commodities energy gold Lagging bitcoin, tech, china internet, airlines, emerging markets, smallcaps

•Stocks to watch AMZN CRWD AA MOS PBR JD RIO Spec Names:  NTRA ASAN

Pre-830ET

Earnings AG ASAN BEKE CLVT CRWD JD LAC MQ

Indices DBC XLE XOP GDX GLD SLV UUP /btc ARKK XLK JETS SOXX SMH EEM QQQ IWM IBB ARKF

S&P500 AMZN MOS HAL OXY MRO XOM DVN SLB PSX COP CF EPAM LIN NVDA CSCO GM MU CCL UAL TXN QCOM

Movers CRWD AMZN KBH PPC XOM RIVN NTAP ASAN BEKE JD NIO CSCO GME GOOG BZUN TSLA AVGO

WSB AMZN CCJ RIVN BABA NIO PLUG NVDA BA GME AMD AFRM NET

Trade Idea AMZN
AMZN in play with 20:1 stock split and buyback. Potential to move higher  but stock splits have lost their potency. Premarket high 2983 and current price 2920. Consider long over 2920 with 3000 target and short below 2900 with 2800 target