Peter's Watch List September 19th

Good Morning,

After the market had practically ground to a halt for a few days, we now finally have the FOMC behind us. In what was a very typical FOMC day, we had a move off of the rate announcement and then a counter move, which left us with a green candle on the day for both the SPY and the DIA. It is worth noting that very often we also see a daily counter move after an FOMC day - especially off of a green candle near all time highs. This morning, it looks like we will have a flat to slightly red open, and I will be very patient to let that open settle in and get some market direction before making any trades. Here are some names that I will be watching today:

CRNT had a big, high volume move yesterday and if it wants to continue over yesterday's high of 2.94 I think it tests $3 and possibly moves up to the 3.25 area

ELY has a nice double top around the $20 level after a nice expanding volume move the last few days. It also saw some nice call sweeps yesterday. I like this over $20 for a move to $21 or higher

ABEO is in a nice flag pattern and showed some nice strength yesterday in a relatively weak market. I like this over 3.29 for a move up over 3.50

ADXS is a penny name that made a strong high volume move over its sma20 yesterday. I like this over .36 for a move to .40 or higher

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