.

  • Swing Trade Idea – December 01, 2022

    Dec 01, 2022 Uncategorized Comments Off on Swing Trade Idea – December 01, 2022

    Color Key: Positive – Neutral – Negative

    Market Setup- Pre 830

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

    •Commodities:  Gold, Silver, Oil and natgas, Grains, Industrial Metals

    •Yields: Yields are lower

    •Currencies:  US$ -.55%, Euro +.34%, Yen +1.3%, GBP +1.1%

    •News: USA: PCE, UE claims 8:30 AM ET;  ISM mfg, construction spending 10:00 AMET; Europe: weak mfg PMI China: Covid restriction meme continues

    •Stocks: COST -2.7% online sales display -10%, CRM -7% EPS, OKTA +16% EPS, SNOW -4% EPS,  KR +3% EPS,  DG -5% EPS, BIG -9% EPS, LE -10% EPS, TD, BMO, CM EPS

    •General: Leading: TLT Gold Miners, Small Caps, Spec Tech Lagging:  China internet, Brazil, and the US$ high yield bonds

    •Indices: The USA indices fell overnight but are rising into the open. The $US and yields are lower with Powell’s speech continuing to lift the markets. The SPY displays a $408 support $406.7, $405, $400, and a resistance of $410, $415, and $420. The QQQ displays a $294 with a support of $292, $290, and a resistance of $295.  In my analysis, the markets are a mild risk-on ahead of PCE data with small caps leading. The ISM data is at 10:00 AM ET but in my opinion, may be market moving. I anticipate that the Indices and many stocks are stretched with a greater risk than reward, but a  short covering and chasing can propel indices to be higher. The SPY > $410 could lead to another squeeze higher.

    •Stocks to watch  SNPS, KR, AAPL,  COST, CRM, DG, BABA, Spec Names OKTA

    Pre-800ET

    Earnings CRM, DG, ESTC, FIVE, GIII, KR, NTNX, OKTA, PVH, PSTG, PVH, SNOW, SNPS, SPLK, VSCO

    Indices TLT, GDX, GLD, EFA, IWM, euro, ARKK, XLB, XLE, KWEB, EWZ, UUP, HYG, faangmt, bitcoin, XLP, AGG, XLK

    S&P500 PVH, SNPS, KR, CRM, DG, COST, SYF, HRL, COF, HPE

    IWM DAR, FRO, NTLA, GIII

    WSB BABA

    Movers OKTA, FIVE, PVH, HCM, SPNS, SPLK, PUK, NTNX, KR, BUD, UHAL, PSTG, CNHI, BTI, GIII, ESTC, SHLS, CRM, NTLA, XPEV, DG, FREY, SNOW, LI, FNF


    My Trade Idea: TSLA
    In my opinion, TSLA is in play in the premarket with the announcement of delivering trucks to Pepsi. I feel that TSLA is a short squeeze name that can have outsized performance if the squeeze continues today. In my analysis, the premarket high of $198.38 can be used for a momentum long with the first target of $200 or I will look for a pullback > $193 and a fade below $193.

0 comment
Top