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  • Swing Trade Idea – September 19, 2023

    Sep 19, 2023 Uncategorized Comments Off on Swing Trade Idea – September 19, 2023

    Date: Sept 19, 2023

     

    Color Key: Positive – Neutral – Negative

    Laurie’s Abbreviation Index:

    ** ‘div’ – dividend

    ** ‘m/m’ – month over month

    ** ‘y/y’ – year over year

    ** ‘Inven’ – inventories

    ** ‘mfg’ – manufacturing

    ** +/- – plus or minus, positive or negative

    ** Underlined text – higher volume premarket

    ** ‘d’ –

    • Global Markets:  USA, Europe, Japan, China, Hong Kong Asia – Neutral  equity global set-up
    • Commodities:  Gold, Silver, Oil, natgas, Softs, Industrial Metals
    • Yields: Yields higher Currencies:  USA -.27%
    • News:  EUR: CPI Y/Y 5.2% vs 5.3% CDN CPI 8:30 ET USA: Building permits 8:30 ET
    • Stocks: RCL+1.9% DELL+0.9% Upgrades SBUX-1.1% downgrade. NIO -5.4% Debt offering ARM -4.5% post IPO hangover
    • CART IPO today
    • Overview: USA SPY 444 displays support of 443 and 440 with resistance of 444 and 445. I expect the SPY to move +/- 1.6. QQQ 370.9 displays resistance of 372 with support of 370, 369, and 365. I expect the QQQ to move +/- 2.4. The US$ is falling rapidly into the open which is supportive to US assets however, yields are rising which is countering.  Oil continues to be strong adding to inflation concerns. Palladium, Platinum and Silver are well bid however copper is not, hence it appears to be pure trading versus general demand. USA indices are flattish with some outperformance by small caps.  FAANGMT are neutral with small outperformance by NVDA and AAPL. May be a range day ahead of the Wed FOMC meeting. AI names small bounce with SMCI upgrade.  INTC 2d innovation day starts at 11:30 ET. I feel that CART IPO will attract attention

    • Stocks to watch: CCL, AAPL, INTC, NIO, SBUX Spec Names: ARM, APLS, ARRY, RIOT

    Pre-8:00 ET
    Earnings: SFIX

    Indices: MSOS, /btc, XLE, EFA, euro, SOXX, IWM, ARKK, GDX, VXX, TLT, UUP, EEM

    S&P500: RCL, WRK, CCL, INTC, SBUX

    IWM: APLS, ARRY, SMTC, RIOT, SMCI, FRO, IONQ, M

    WSB: APLS, ARRY, SMTC, RIOT, SMCI, FRO, IONQ, M

    Movers: APLS, ARRY, HMC, STLA, RIOT, RCL, WRK, CCL, SMCI, FRO, TTE, EQNR, IONQ, RIO, X, INTC, NIO, LI, CNHI, SBUX, COTY, JD

    Trade Idea: INTC

    INTC is trading higher premarket ahead of a 2d innovation conference which starts at 11:30 ET. Calls are building in INTC, 40 the largest strike this week.

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