Watch List January 22nd

Good Morning,

Yesterday we saw another new all time high in the market and this morning we are seeing a pretty good gap down in the major indices and a spike in the VIX. This is never fun to deal with, but this comes with the territory on all time high resistance and reinforces our approach of keeping position size smaller when we are constantly on that resistance. Yesterday we were able to book some very nice profits on WWR and NNDM. Please be aware that bending rules like that on overnight swing trades is not the norm, and these two setups were very unique. We also took new overnight swing trades in CRBP, which we already closed, and IFMK where we have booked profits on half. Here are some names that we will be watching today:


CSCO is trading in a very tight range in a TTM Squeeze and looks ready to make a move into its earnings report on February 9th. I like this from $45 to 45.25 for a push up into the gap above


TCOM pulled yesterday but I still like the overall setup here it it can reclaim a key anchored vwap level at 34.07 for a push up to 37.50


JMIA tested and held its sma20 yesterday and pushed up nicely in a TTM Squeeze on the daily. I like this it it pulls again today with the market down and holds the $43 level for an entry for a push up to $48 or higher


MGM is another get back out there name in a very nice TTM Squeeze as it is heading into earnings on February 10th. I like this on a pullback and hold of its sma20 for a push to test recent highs at 32.50 and possibly break much higher



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