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Market Lab Report - After the Open 12/20/16

Major averages finished up yesterday, though in the lower half of their trading ranges, on lower volume. Overnight, the Bank of Japan did not change its stance on QE but did upgrade its economic assessment.

Bonds and precious metals remain in downtrends as the yield curve continues to steepen. With the Dow Industrials almost at 20,000 and other indices on the rise, the market continues to telegraph better economic times ahead. Of course, that still remains to be seen as the QE issues are still prevalent. So while markets are forward looking, dont let that create complacency. Keep stops tight and risk to a minimum by buying on constructive weakness.

Long-time VoSI Focus List name Nvidia (NVDA) has pushed beyoind the $100 price level, and as we discussed in our weekend Focus List Review, a break above the $100 "Century Mark" could be tested on the long side, using the $100 level as a tight selling guide. This morning Goldman Sachs put the stock on their Focus List, which strikes us as a bit late, but it has the stock gapping up nearly four points this morning. IF long NVDA, keep tight trailing stops.

This information is provided by MoKa Investors, LLC DBA Virtue of Selfish Investing (VoSI) is issued solely for informational purposes and does not constitute an offer to sell or a solicitation of an offer to buy securities. Information contained herein is based on sources which we believe to be reliable but is not guaranteed by us as being accurate and does not purport to be a complete statement or summary of available data. VoSI reports are intended to alert VoSI members to technical developments in certain securities that may or may not be actionable, only, and are not intended as recommendations. Past performance is not a guarantee, nor is it necessarily indicative, of future results. Opinions expressed herein are statements of our judgment as of the publication date and are subject to change without notice. Entities including but not limited to VoSI, its members, officers, directors, employees, customers, agents, and affiliates may have a position, long or short, in the securities referred to herein, and/or other related securities, and may increase or decrease such position or take a contra position. Additional information is available upon written request. This publication is for clients of Virtue of Selfish Investing. Reproduction without written permission is strictly prohibited and will be prosecuted to the full extent of the law. ©2024 MoKa Investors, LLC DBA Virtue of Selfish Investing. All rights reserved.
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