Top Trade Ideas - November 6th

After a week of the "Everything" rally, can markets move higher again?

It was a week of the “Everything” rally. Equities worldwide traded higher as central banks held interest rates level. The MSCI World Index rose 4% higher, its best week in a year.

In G10 FX, currency pairs whipsawed as the week went on. A case in point was USDJPY, which jumped almost two big figures from the BoJ meeting on Tuesday, only to completely unwind all of this post-Fed and post-NFP print on Friday. The volatility was similar throughout all major pairs.

Equities

Super Micro Computer has been trading within range for some time. While price has recently tested the lower range, we have been keeping note of this name to trade long.

Although a volatile name, this could have nice upside potential if US equities also continue strength higher.

TRADE IDEA - SMCI RANGE

Entry: 250.00

Stop Loss: 225.00

Take Profit: 300.00

META, along with many other tech names, saw a strong move higher as the markets went risk-on.

We think momentum will take this name back to YTD highs. This is a quick trade within the week, targeting Friday expiration calls.

TRADE IDEA - META CALLS

Entry: 320 Calls, Nov 10

Stop Loss: 305.00

The rest of our Monday weekly preview highlights:

• 3 more equity trades

• 3 FX pairs

• 1 commodity trade

• 1 index trade

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Onto the ideas…