Watch List December 15th

Good Morning,

Yesterday was quite a day for the market with the SPY, DIA, and IWM red on the day and the QQQ green. In all cases though we saw a pretty big afternoon fade after some strength early. We also saw a spike in the VIX although it did find resistance again at the 25.00 level and is down about 6% in the premarket this morning. The market continues to be extremely news driven especially when it comes to news about Covid closures, vaccines, and stimulus and I don't expect this to change for awhile. This morning we are looking at a gap up on all of the major indices, and we remain in a place where we are close to all time high resistance. Overall we are still in a place where smaller position size to manage overall risk and less aggression is prudent. Here are a few names that we will be watching today:

KALA, BLNK, DADA, and PAYX all look interesting off of the weekly watch list

WEN is consolidating between a couple of key anchored vwap levels. I like this on a pullback hold of the lower level around 22.25 for an eventual push up out of the consolidation to the high $23s or higher

AYX sold off on earnings last month and has now given a 3/8/20 cross with a TTM Squeeze. Ideally I like this for a swing on a pullback and hold of the 117.50 to $118 level for a push up to the sma200 around $128

VRM is in a nice TTM Squeeze and setting up for a 3/8/20 cross up. I like this if it shows any strength over the daily sma20 at 35.31 for a push up to test $40 and possibly go much higher

BLCM is a beat up biotech that has put in a double bottom and is trying to reclaim its sma20 in a TTM Squeeze. I like this on a soft open for a red to green move and push up to $4 or higher

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