Peter's Watch List February 5th

Good Morning,

It promises to be another very interesting day for the market. We are gapping up strongly on what appeared to be news of both treatment and vaccine for corona virus, although the World Health Organization is saying that this isn't true and has a press conference scheduled at 10 AM Eastern. I will continue to very patient here and look for opportunities in small position size that can withstand this volatility and constant big gaps up or down. Some things I will be watching for today is what happens on any test of all time highs for the SPY or a test of $330 if either of these set up. I will also be watching the VIX closely which has eased some this week, but it is still above that key $15 level. Here are some names that I will be watching today:

LJPC pulled back to its sma20 and held and pushed off if it beautifully on high volume. I like this over 8.54 for a test of $9 and possible push higher

SMSI has a nice inverse head and shoulders pattern on the daily and is working its way through the neckline. I like this over 5.64 for a move to $6 or higher

SPCE is setting up for a test and potential breakout of the $20 level. I like this over $20 for a move up to $22

Z is in a huge cup and handle formation and is testing the right side of the cup here. I like this over 49.14 for a test of $50 and possible push to $51 or higher as it moves into earnings on February 19th

LYFT is another large inverse head and shoulders pattern that has earnings on February 11th. I like this over 50.50 for a push up to the $54 area into their earnings report

ETSY is in a nice cup and handle type pattern that is starting to break up out of the handle. I like this over 51.21 for a push up towards its sma200 around $55

ACST is for day trade only since it has trial data due in mid February, but I like this over .87 for a push up to test the $1 level

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