.

Swing Trade Ideas – April 29, 2020

Market View

Ahead of the USA open the markets are modestly higher. The factors are mixed, as bonds are higher with the yield curve flatter which is negative for financials. USD is flattish which is neutral. Oil is higher but really just  wild swings occurring in the front oil contract. Fed meeting today should keep markets subdued prior to the conference call.  GOOGL missed earnings but analysts now are less concerned about the drop in ad spending. GOOGL up in premarket will boost the Nasdaq and help social media stocks.

Premarket names

Same as Mon/Tues the premarket leaders are beaten down travel and leisure names such as MGM  CCL RCL; Earnings SPOT, GOOGL;  Social Media SNAP TWTR PINS Dashfortrash M BBBY

Stock Idea: XHB

XHB is the homebuilder sector. It holds both retail companies like HD as well as builders like Pulte and DR Horton. DR Horton had a positively received earnings release Tuesday. New mortgage applications are higher today after a substantial fall-off.  Personally not bullish longer term on housing but short term there is room to the upside with price above the 50 SMA and a volume by price gap above.