Watch List November 5th

Good Morning,

Well it's another day with another big gap up for the major indices. It looks like we are a little bit closer to knowing how this election will play out, but there still is not a clear winner in the Presidential election. Until the election fully plays out, we need to be prepared for the possibility of some more choppy action, although it is very nice to see the VIX easing some more this morning. We also have a busy economic calendar today with jobless claims #'s in the morning followed up by the FOMC decision and press conference this afternoon. Hopefully trading conditions continue to settle down a bit after this week and put us in a place where we can get back to more swing trading soon. For today I will be focused on day trade setups from our Gn'R watch list as well as the following names:

BILI is in a TTM Squeeze and I like this on a soft open that goes red to green for a test of $50 and possible push higher

ALEC has a nice 3/8/20 cross up with a TTM Squeeze. Ideally I like this on a soft open with a red to green move but would also consider entering on a break of 11.50 for a test of $12 and possible push into the mid $12s

RUTH is working its way over its daily sma200 in a TTM Squeeze. I like this over $12 for a push up to the mid to high $12s

NLS is a sympathy play to PTON that has earnings after the bell today. I like it over 25.25 for a push up towards $27

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