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Peter's Daily Watch List March 11th

Good Morning,

After what looked like maybe things would settle a bit yesterday, we are right back into very heightened volatility. I can't stress enough that this is a time to be cautious and if you take some shots, take them in very small position size. We are still likely to see large gap ups and down in this market volatility for at least a few days, and no matter how good your setup is you will need to be able to withstand these huge overnight moves. For me the best way to do that is with super small options positions where if it goes to zero I'm OK with that. For those of you who are new in our swing trading service, please understand that we will be much more active once this volatility settles which it eventually will. Here are some names that I will be watching today:


STNG in an oil tanker company, and with oil supply getting way ahead of demand, these tanker companies may be getting extra business to hold some of the excess supply. The chart is setting up for a 3/8/20 cross on heavy volume. I like this on either a r/g move off of a soft open or on a move over $20 for a push up to the ema34 around $22


MRK and many big pharma companies are showing some cleaner signs of potential bottoming than the overall market. This is starting a TTM Squeeze, and I like this over 81.50 for a push up to the mid $83s or higher


DPZ gapped up on earnings and is holding its sma20 in this weak market. I like this on another test of the sma20 and then move back up through $336 with a target around $345 or higher


GO is a name that I have been watching for a while and just waiting for a clean entry. Ideally I like this on another test of the ema8 and/or sma20 and then move back up through $33 for a test of $34 and possible push up to $35 or higher


GILD is a solid commercial stage biotech that also has a strong candidate for Covid-19 treatment. I like this for an entry between $73 and $74 for a potential push back up to the $78 area or higher