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Swing Trade Idea – March 9, 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

•News: Russia-Ukraine: New ceasefire;  Executive order on cryptos is boosting bitcoin

•Stocks: Earnings: BMBL FIGS MDB ZIM LAC SFIX; Today is a short squeeze which benefits the most oversold stocks i.e. small cap tech, bitcoin

Indices: Markets short squeezed overnight to reach Tues highs. Premarket SPY 425 is a gamma level – look for a breakout to 430 or pullback to 420 or overnight low 415. Vix futures 31.67 pulled back but term structure inverted so risk remains high.

Sectors: Leading: bitcoin, airlines spec tech semiconductors Lagging commodities gold miners energy US dollar

•Stocks to watch COIN MARA ZIM CPRI AAPL UAL GDX XLE Spec Names:  BMBL SFIX

Pre-830ET

Earnings BMBL FIGS MDB ZIM LAC SFIX

Indices /BTC GBTC JETS BLOK ARKK SOXX FANG XLF DBC GDX XLE SLV XME UUP TLT

S&P500 CCL UAL MTCH GM NVDA BKNG CZR AMD MU EXPE DLTR CRCT NTRA GOLD SBSW VALE CPE

Movers BMBL XPO MDB ZIM MARA SI RACE MSTR UPST NVS MNDT BBBY

WSB ASTS  FIGS HUT RIOT AFRM SPCE ANY PLTR CCJ CORN

Trade Idea DLTR
DLTR has moved higher after an activist investor joined the board. Today Piper and Loop upgraded DLTR with 180/200 targets. DLTR can increase margin though moving off the $1 price point. $152 premarket, look for pullback for a long entry. Expect retail stocks to make large moves today on short covering.