.

  • Swing Trade Idea – October 25, 2024

    Oct 25, 2024 Uncategorized Comments Off on Swing Trade Idea – October 25, 2024

    Date:Oct 25, 2024

    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’ – day

    ** ‘Y’ – year

    **govt – government

    Color Key: Positive – Neural – Negative

    Global Markets:  USA, Europe, Japan, China, Hong Kong Asia – Neutral global set-up

    • Commodities:  Gold, Silver, Oil, natgas, AGGS, Industrial Metals, Bitcoin
    • Yields: 30Y Bond +.05%  Currencies:  USA$  0% YEN -.08% BTC/USD +0.1%  Vix: 18.85
    • News:  USA: Durable goods 830ET; UofM Consumer Sentiment 10ET  JP: PPI 2.6% y/y
    • Stocks:  WDC+11% DLR+10% SKX+7% BAH+11% CNC+12% SNY+3% DECK+12%    COUR-22% DXCM-4.75%  EPS Judge blocked TPR+15%  buying CPRI -47%;   AAPL-.7% downgrade
    • Overview: SPY 581.1  support 580 575  and resistance 582.3 585 SPY expected move +/- 3.4 QQQ 494.4  with support 490 487.9 485   resistance 495 495.6   expected move +/- 3.9.  USA indices are rising since European session and into the NY. Macro setup is neutral with long yields and US$ flat. MAG7 are mixed with AAPL lower on report of China iPhone underperformance vs Huawei and a downgrade. TSLA small pullback after a monster short squeeze Thurs but the slack is being  picked up by the rest of cohort led by NVDA. Positive reaction to WDC earnings lifting MU and giving an incentive to buy semis. DECK and SKX positive earnings reaction giving a lift to ONON. COF positive earnings reaction good for credit space. Consumer sentiment 10ET could be market moving. SPX remains in positive gamma which should continue to keep it rangebound  with 5800 the bull/bear level but no major downtrend is expected unless SPX < 5700.

      Expected moves SPY(582.5-575.8) QQQ (495.6-487.9) IWM (221.4-218.2) SPX (5843-5776)


      Stocks to watch WDC DECK CNC TPR COF NVDA  CPRI AAPL   Speculative ONON SOFI
      Pre-800ET
      Indices KWEB FXI MSOS SMH XLRE QQQ IWM XLK SPY XLF USO  UNG SLV GDX GLD

    S&P500 WDC DECK CNC AVGO SMCI AMD DXCM NEM CL TSLA

    NASI MU AVGO SMCI AMD PDD DXCM TSLA
    Other TPR ONON SOFI SNY OKLO SMR VKTX  CPRI NYCB HCA  





    Trade Idea: SOFI

    SOFI is a lending company which reports earnings Oct 29. Short float 17% so may get a short squeeze into earnings. COF earnings results can provide a lift to companies like SOFI which are sensitive to borrowers with weaker credit ratings. Premarket high 11.36 with 11.5 a breakout level and support 11. Call options are pricing 12-12.5 into next week. Note, risky stock, hence the higher short interest. It does well in a risk-on market and will be destroyed in risk-off. These type of companies are Trump win beneficiaries according to analysts

0 comment
Top