Peter's Watch List August 12th

Good Morning,

It looks like all of the major indices are down a bit in the premarket and we are likely looking at a gap down open, although lately this look could change a lot by 9:30. The SPY has been testing the 290 area in the premarket, and if that breaks, there is a lot of room down before next support, and the VIX is up almost 10% in the premarket. Overall it remains a time to be pretty cautious and to focus on short term trading. Should the market find support and start to move up, here are a few names that I will watch, but most likely I will be focused on five minute control candle and reversal day trade setups:

PETQ gapped up on earnings, and then gave it all back. Friday it moved back up over its sma20 with nice volume. I like this over $35 for a move to $36 or higher

MRNS is a beat down name that looks ready for a short term pop. I like this over 1.25 for a move to 1.40 or higher

CRSP regained its sma20 on Friday with volume and started a TTM Squeeze on the daily. I like this over 50.26 for a move to $52 or higher

SNAP pulled back to its sma20 and held last week. I like this over 17.20 for a move to $18 or higher

SBUX gapped up on earning s and has been in an orderly pull back since then just above its sma20. I like this over 96.84 for a move towards $100

If you have any questions please feel free to email me at and trade green!

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