About Traders Path

Peter's Watch List March 2nd

Good Morning,

We are looking at another gap down for the market this morning after some more corona virus news over the weekend. Today I will be watching the SPY very carefully to see if we can hold any potential support area or not. A key level for me is the anchored vwap on the weekly chart that is anchored to the Dec 2018 lows which is right around the $292 level. If we break that then I watch $290 or Friday's low of day for potential support. I can't stress enough that we do not want to guess at any of these levels holding. For my watch list today I will be focused on the names from the free weekly watch list as well as just a few other names:

GILD has had a ton of news around a corona virus treatment as well as some M&A news this morning. If this can hold the $70 level this morning I like this on an entry from $70 to 70.50 for a move up to the $75 area or higher

TDOC had a strong gap up on earnings last week and filled the gap on Friday. I like this on a hold of the $125 area and will look for potential entry on a 125.50 break for a move to $120 or higher

I want to stress that volatility may make trading very difficult still and that for any swing trades that work quickly, I may take profits as a day trade so just be aware of that if you are subject to PDT restrictions.