Watch List May 4th

Good Morning,

We are setting up for a gap down in the major indices this morning, and the VIX is testing its daily sma20 in the premarket. I will be extremely patient to see if the market finds any support on this gap down or if we are going to probe lower. I will mostly be watching the weekly watch list today as well as monitoring existing positions. We should see a bit of a gap up in GLD which may have me trimming some profit after the open. In addition to the weekly watch list I will just be watching a small group of stocks/sectors:


PTON reports earnings later this week and I may look for a quick swing into earnings if it tests and holds its sma20


KR I will watch to see if it can regain its sma20 as some news that the food supply is under pressure could get grocery stores moving up again.


I will also be watching the airlines closely today to see if any trade opportunities set up after Warren Buffet's negative comments on the sector this weekend



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