Watch List August 4th

Good Morning,

yesterday we saw the QQQ make new all time highs and the SPY move up into the gap above. This morning we are seeing a modest gap down in all of the major indices and a relatively flat VIX. Nothing has really changed for me as far as continuing to see the market in an uptrend, but an uptrend that could easily have a very choppy path or a sudden correction. With this approach, we will continue to take selective shots in smaller position size, which has served us very well. Here are some names that I will be watching today:

WORK I still like short on a break of the $30 level for push down to test $28 and possibly break down to $25

NKE I still like long over $98 for a test of $100 and push up to $105 or higher

FOLD is a biotech with commercial product now that has earnings next Monday morning. It pulled with the XBI and is bouncing off of its sma50 and testing the sma20 around $15. I like this over $15 for a push up to $17 into earnings.

ICPT is basing in a nice reversal pattern in a TTM Squeeze. I like this on a soft open where I could pick it up around $47 for a push up into the large gap above

FLIR has earnings on Thursday morning, and I like this for a quick run up into that. Ideally we see a soft open and push over $42 for a run to $45 or higher

CGEN took out its sma20 and a key anchored vwap level yesterday and is building a nice base of anchored volume by price. I like this on a soft open and red to green move for a push up to recent highs around $18

PBYI is testing a diagonal trend line as it heads into earnings Thursday after the close. I like this over $11 for a push up to the mid $12s

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