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  • Swing Trade Idea – May 9, 2022

    May 09, 2022 Uncategorized Comments Off on Swing Trade Idea – May 9, 2022

    Market Setup pre-800ET

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

    •Commodities:  Gold, Silver, Oil and natgas, Grains, industrial metals (aluminum, copper, nickel palladium, zinc)

    •Yields: Yields higher curve steeper

    •News: USA: Wholesale Inventories 10ET Europe: Sentix investor confidence -22.6 vs -21.7 Canada: Building permits 830ET China:

    •Stocks: RIVN  F and AMZN selling blocks of 8M and 12M; China: Export growth slowed to weakest in 2 years – lockdowns risking deeper slowdowns. SJR regulator blocked takeover by Rogers; Crypto currencies very weak – UST trading below peg and Luna dropping – MSTR margin call meme now active

    •Macro: Rising US$, higher yields and China lockdown spiced with Ukraine is leading to broad weakness in global equity, commodities and fixed income. Spec tech, commodities and FAANGMT are being hit hard.

    •Indices: USA indices started pullback at 3ET and bounce began 7ET. SPY key gamma levels 400, 405 and 410. QQQ 300, 305, 310. SPY 400 and QQQ 300 are very important levels. Look for gamma levels to act as support and resistance. VIX futures are back inversion indicating high risk.  2.0% move based on volatility. Small Opex today can lead to sharp move into close.

    •Stocks to watch: CI NIO PLTR RIVN HMY W SHOP TSLA AMZN  bitcoin (MSTR COIN MARA SI)Spec Names: DINO

    Pre-800ET

    Earnings BNTX DINO TSN PLTR (miss -13%) ENR

    Indices /BTC ARKK KWEB MSOS GDX SLV faangmt QQQ ICLN XLK XLB ARKF FEZ EEM

    S&P500 TSLA FCX ETSY LIN AMZN EPAM AAL NVDA WYNN DAL AMD UAL APA SEDG NFLX PYPL FB MU

    Movers ENR DLO RIVN PLTR SHOP CDE TSLA SBSW AMZN DKNG SOFI CRM SOFI GME DISH

    WSB RIVN NIO NET PLUG RBLX PLUG CCJ BABA NVDA AFRM AMD

    Trade Idea: SARK
    SARK is an ETF for shorting the ARKK with an ETF. Markets are already very depressed in the premarket so a strong bounce is possible. SARK should only be entertained after a bounce has failed. Premarket high 67.13 for a momentum trade. Break below 65 can indicate a short covering day and hence short will not work.

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