Watch List December 9th

Good Morning,

The market continues to be very strong with another new all time high hit yesterday and a moderate gap up setting up for this morning in the SPY. We are also seeing the VIX trying to bounce but so far getting rejected at its daily sma20. It is worth noting that the VIX is starting a TTM Squeeze on the daily, and it could be setting up for a bigger move. Overall we remain in a place where we don't want to fight the uptrend, but we do want to keep position size small while we are constantly on all time high resistance. Having said that, we have been taking some shots this week with some decent success. I closed out FUTU yesterday on a nice gap up in the premarket and at the open. I still think this eventually pushes higher, but hate to pass up profits in a gap up like that while the market is on those all time highs. I also trimmed some AAPL yesterday and may add back on any pullback that finds support. I also started a new position in NMIH yesterday, which is in a very tight TTM Squeeze on multiple time frames and looks ready for a bigger move. Here are some names that I will be watching today:

HBI is right off of our weekly watch list, and is an attractive entry right around where its trading now in the low $14s

SPCE gave a beautiful inside day yesterday and looks ready to continue its recent strong run an possibly push up to its 52 week highs. I like this on a break of $34

KALA is a name that recently got FDA approval on a significant product and sold off on that news. Its is in a decent reversal pattern in a very tight TTM Squeeze. I like this off of its sma20 at 7.40 for a longer swing trade that pushes up to the mid to high $8s

TGT has been in a very orderly pullback off of its recent highs, and I would be interested in a test and hold of the vwap anchored to the October 30th swing low for a push back up to recent highs

HDSN is a vaccine lay in that they make refrigeration for storing and transporting vaccines and the chart is in a nice flag/pennant type pattern. I like this from 1.60 to 1.5 for a push up to $2

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