Watch List May 12th

Good Morning,

Yesterday the market gave us a little bit of everything including a gap down, a red to green move and rally and then a late afternoon pullback that left us barely green on the day for the SPY. This morning we have been anywhere from slightly down to modestly up in the premarket. If nothing else the market has been very resilient as it tries to grind through an area of heavy resistance here. With more heavy resistance just above if we get through this zone here, I will continue to be patient and look to buy support and short resistance until the market gives us a clearer direction than sideways and slightly up. Yesterday we booked a nice win in SDC and this is continuing higher today if anyone is still in it. I also took a starter in UBER puts which is finding resistance around its sma200. Here are some names that I will be watching today:


COST is trying to work its way over vwap anchored to the recent highs, and I like this on a pullback and hold of that anchored vwap around $305


HSIC has consolidated nicely along its sma20 in a TTM Squeeze. I like this on a soft open and red to green move for s push up towards the sma200 around $61


GLPI moved over its sma50 yesterday in a TTM Squeeze. I like this on a test and hold of that sma50 for a push up towards the sma200 around $37


TXRH is in a very nice TTM Squeeze on the daily and is trying to push up away from its sma20. I like this on a soft open and a red to green move for a push up to the sma200 around $53


BFAM is a name that I am watching for a potential short entry if if tests the sma20 and fails


SJM is a name that I watching for a potential short entry if it tests and fails at the sma20


UNH I like on a soft open and red to green move for a push up to recent highs around $304


ROKU is a name that had earnings last week and pulled but had strong recovery yesterday. I like this on a pullback and hold of its sma200 around $126 for an entry and then a potential test of last week's highs



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