Market Lab Report - VoSI Focus List Review for the Week Ended August 5, 2016
Trading journal notes from Gil and Dr. K regarding the status of the current VoSI Focus List. The current list is as follows:
Please note that all ratings and data are from HGS Investor Software, LLC.
Fabrinet (FN) and Vulcan Materials (VMC) have been removed from the VoSI Focus List. FN and VMC have both broken down below their 50-day moving averages but have not yet technically violated them just yet. VMC broke down on earnings, while FN broke down in sympathy to a poor earnings report from another, albeit lagging, telecom-related name, Infinera (INFN). FN is expected to release earnings on August 15, which might potentially resurrect the stock. Both stocks should be watched in the event they are able to regain their 50-day moving averages relatively quickly.
Focus List stocks in lower-risk buy positions at or along the 10-day moving average: AMWD, BSX, EW, ISRG, JBT, MDVN, SIMO, UFPI, VEEV.
Focus List stocks in lower-risk buy positions at or along the 20-day moving average: MXL, SLV.
Note that stocks that had buyable gap ups may pull back more than 1-2% below the low of their gap-up day so may have been sold. They can be bought back provided they constructively pulled back to logical areas of support.
Base Breakouts: AVGO (on a pocket pivot move), DY, EBIX, WB [These are somewhat extended so constructive pullbacks make lower risk buy points.]
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