Peter's Watch List February 7th

Good Morning,

Yesterday we saw yet another gap up day and we made a new all time high. This morning as I type at 7:15 AM Eastern, we are looking at a bit of a gap down for all of the major indices, although we have come off of the premarket lows quite a bit. We are still seeing a lot of news coming out of China regarding corona virus, and we can expect that this news will continue to affect the market for a while here at least. We need to keep in perspective that the concern here is not some sort of huge black swan event, but a concern that the virus will disrupt the Chinese consumer and Chinese supply chain that affects the world economy. It is also worth noting that the VIX is back over 15 in the premarket. It will be very important to me to see how this closes today. Overall it remains a time to be very patient. I will continue to look for opportunities, and more importantly, for any trades that I take I will continue to keep my position size very small to limit risk until this volatility eases. Here are some names that I will be watching today:


CHNG is in a nice TTM Squeeze on the daily, and I like this over 16.84 for a push up to the mid to high $17s as it heads into earnings on February 12th


BA is a name we sold out of yesterday for a nice profit, but I still like the setup here. I would be interested on a soft open and then move back over $340 for a push up to $345 and possibly $350 and would likely use either February or March monthly $345 calls if I trade this


CLVS is a name that I will be watching for a potential Friday short squeeze today. Ideally we see a soft open and then a red to green move and can get an entry around 10:15 to 10:25 for a test of yesterday's high and then a potential squeeze higher


BLDP pulled off of recent highs and consolidated on its sma20 and looks ready for a push back to highs. I like this over 11.21 for a push up to $12 or higher


YEXT is in a nice TTM Squeeze with a gap above. I like this over $16 for a push up to close the gap in the high $16s


PZZA is in a nice TTM Squeeze that just went to light blue momentum bars. I like this over $66 for a test of the recent highs of $67.11 and possible break higher


I will also be watching SSRM and PAAS off of the weekly watch list today with no change to the PAAS plan and a revised entry for SSRM of and $18 break


Last but not least I will be watching FOLD for a potential short setup of it loses the sma200 on the daily and starts to break yesterday's lows

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