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Market Lab Report - Premarket Pulse 1/13/16

Major averages rose on mixed volume. Economic news out of China on their export data came in above expectations sending oil and European stocks higher in relief-rally fashion as markets are due for a bounce after the drubbing they have endured. Nevertheless, China's Shanghai Composite Index fell another 2% continuing its downtrend.

Futures are higher by more than half a percent at the time of this writing. Watch for short sale set-ups that may emerge during this bounce which may be short-lived. Most former big-stock leaders have broken down through their 50-day moving averages, and in some cases even their 200-day moving averages, such as PANW and LNKD, for example. As the market rallies we are also watching for potentially shortable rallies in names like FB, AMZN, NFLX, GOOGL, MSFT, and others. Some of these rallies may occur as a function of a perceived "strong" earnings report that sparks a gap-up move that can be shorted into. We saw that in AAPL back in July of last year.

Currently, we see NFLX as shortable here using the 50-day moving average as a tight stop. The company announces earnings on January 19th, so one either looks for a quick breakdown from the 50-day moving average before earnings, or looks to hold a small position, at most, going into earnings.

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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. ©2018 MoKa Investors, LLC DBA Virtue of Selfish Investing. All rights reserved.
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