Peter's Watch List October 2nd

Good Morning,

We have been talking about the 3/8/20 cross down in the indices for a few day snow and saying that the path of least resistance was down. We also mentioned yesterday that patience at the open was warranted. Well I never thought we would be quite that right! We had a gap up open yesterday with a nasty all day selloff. In my opinion this pullback is a good thing, and I would love to see it continue some. As counter intuitive as that sounds, it would give us much better trading opportunities if we had a deeper pullback. We could find some nice short trades on the way down, and then find much better long opportunities if we find support and reverse back up. In the premarket it's looking like we may see some more pullback today, but I will again be very patient to let the open settle in. Here a few names that I will be watching today:


ANIK is in a huge flag and made a nice move back over its sma20 the last few days. I liek this over yesterday's high of $58 for a move towards $60


FIZZ is a beat up name in a reversal pattern that just regained its sma100 after hitting resistance there in the reversal. I like this over 46.13 for a move to $47 or higher


RCII I think is unlikely to set up, but if it can take out yesterday;s high of 26.51 I like this for a move to $27 or hgiher


ALGN is another beat up name trying to reverse and is in a nice TTM Squeeze on the daily. I like this over $183 for a move to $186 or higher


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