Peter's Watch List January 15th

Good Morning,

Just when we thought we put crazy intraday market movement based on trade deal news in the rear view mirror, it reared its ugly head again yesterday. We were making new all time highs when some supposed news about tariffs hit and dropped the market from comfortably green to a little bit red very quickly. It turns out that this news really wasn't news and has been known all along; however, the market reacted as if this was new news. My best guess is today will not see any panic on trade, but we should certainly keep ourselves nimble and ready to move on from positions that reverse on any further news. I will continue to focus on shorter time frame setups and take very selective shots at some swing trades. Here are some names that I will be watching:


OSTK is a wild one so be warned to take this in smaller position size if you take it. I like this over 9.08 for a push up to $10 or higher


FLR made a high volume move off of a cluster of moving averages yesterday. I like this over yesterday;s high of 20.51 for a test of $21 and possible push into the mid to high $21s


ADVM is a biotech that had a gap down last fall and recently filled the gap and pulled back to its sma20 where it has consolidated. It has a small catalyst with a set date of February 8th and is in a long TTM Squeeze. I like this over 11.58 for a test of $12 and possible push into the mid to high $12s


NWL is in a nice TTM Squeeze on the daily and is retesting some resistance setting up a short term double top. I like this over $20 for a push up to $21 or higher


CVS is consolidating underneath some trendline resistance and potentially setting up a 3/8/20 cross in a TTM Squeeze. I like this over the trendline at roughly a $74 break for a move to $75 or higher


NEM is a gold name that I will watch if we see any further market pullback. I like this over $43 for a push up to $44 or higher




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