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Market Lab Report - Premarket Pulse 3/7/17

Published : March 7 2017 at 9:12 ET

Major averages finished down yesterday but near the top of their trading ranges on lower volume. While that is what you want to see when the market has a down day, some leading stocks are still in a corrective mode.

Focus List Update

NFLX had a pocket pivot a day after it nearly hit its 10-week moving average.

TTD was lower by -5%. As we have suggested, taking profits when a stock's price gets ahead of itself can work well. That said, don't expect to pick tops. Given yesterday's lower open, one could have kept stops very tight on TTD after it opened. 

THO is gapping lower on a weak earnings report.

MOMO reported earnings Tuesday before the market open. It is gapping higher in pre-market trading on a strong earnings report which may qualify as a potential buyable gap up depending on how it trades today. We would also consider taking profits given how extended the stock has become since we first reported on it back in late January at 23.42.

On the ropes with respect to holding near-term support: BOX, JD, CUDA, FTNT, GKOS. Keep stops tight if you still have a position.


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