Peter's Watch List January 31st

Good Morning,

It has been quite a week for the market, with trading conditions challenging to say the least. We are in some choppy volatile conditions that make it difficult to get long or short here. There is still a lot of unknowns with the corona virus outbreak, and as more becomes known, it could move the market sharply in either direction in the short term. As traders, all we can do is to trade conservatively, take some shots, and keep position size small. I will say that last one again - we need to keep position size very small until we see a clearer direction from the market. In the premarket we were sharply down early this morning, and for the moment we are closing the gap to a nearly flat look at the moment. I will be watching the sma20 and ema8 very closely on the SPY today and will also be keeping a very close eye on the VIX. Last but not least I will be watching the QQQ closer than usual today as that is showing a ton of strength in the premarket, and I want to see if this continues or fades as it may lead the greater market. Here are some names that I will be watching today:


DDOG has been showing a ton of strength and may be setting up for a short squeeze today. I like this over 47.20 for a push up towards $50


PTON has been showing some relative strength in this chop, and its TTM just went light blue in a squeeze on the daily. Fib extension suggests this has a lot of room up if it can get through some resistance around 32.35 I like it over this level for a move up to the $35 area ahead of their earnings report on February 5th after the close


NFLX gapped down and went down on their earnings report and has since recovered very nicely with a TTM Squeeze starting. I like this over 348.20 for a push up the $355 area or higher


CSX I've been stalking for a while here and still like the action. Ideally I'd like to see a soft open and pick this up around 77.50 for a move to $80 or higher


SDC is flagging in the latter part of a very nice cup and handle type pattern and has heavy short interest. I like this over 13.50 for a push up to $15 or higher


ROKU is still trying to work its way out of a descending wedge and could make a strong move it if does. I still like this from $129 to $131 for a push up to $135 or higher















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