Peter's Watch List For Friday July 12th

Good Morning,

The market showed us a lot of indecision yesterday as it gapped up and looked like it wanted to test that SPY $300 level but then pulled back some and whipped around. The good news is the strong, directional intraday moves gave us some great trade setups in the chat room. This morning the SPY is already over that $300 level in the premarket and it will be interesting to see if this test of $300 will bring in buyers or sellers today. The VIX has also eased considerably and is moving into the lower half of my "zone of comfort." Overall these conditions are good, but will still likely be choppy for swing trading with the market into some resistance at the all time highs and a huge psychological level. Here are some names that I will be watching today:

VSTM has had a very rough ride since its ast drug got FDA approval last fall, and it is finally showing some signs of bottoming and potential recovery. I like VSTM from 1.55 to 1.58 for a move up towards the $2 level

BYND is a wild trader so be aware of that if you like this idea. It has made a nice bounce off the sma20 and could be setting up for a Friday short squeeze over 174.50

ZIXI is trying to break a short term double top. I like this name over yesterday high of 10.39 for a move towards $11

MRCY is in a nice long TTM Squeeze and has been consolidating between the sma20 and sma50 and yesterday it made a nice move up over the sma50. I like this from 72 to 72.40 for a move to 74 or higher

LK Lucking Coffee is a relatively recent IPO that struggled out of the gate but is starting to coil nicely and could be ready to make a strong move up. I like this over 19.71 for a $20 test and possible move higher

DELL has been in a nice bottoming pattern for the last month and looks ready to make another move higher after breaking over the sma20 yesterday. I like this over 53.50 for a move to 55 or higher

ELY is in a nice flag pattern and starting a TTM Squeeze on the daily. I like ELY over 18.08 for a move to the mid to high $18s

RDNT has been in a sloppy, long term cup and handle type formation and looks ready for a move higher if it can break over 14.25

AN is in a nice TTM Squeeze on the daily and just regained its sma20 yesterday. I like AN over 41.84 for a move to $43 or higher

CSX is another nice TTM Squeeze on the daily that is just below its sma20. I like CSX on a move over the sma20 at 77.50 for a move up towards the $80 level. If I were to trade this I would probably go with the August 77.50 calls.

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