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VoSI Focus List Review for the Week Ended January 26, 2018

Current Focus List
The VoSI Focus List is a compilation and reference list of stocks for which Pocket Pivot or Buyable Gap-Up Reports have been issued and which have been deemed suitable for inclusion on the Focus List. Not all stocks for which a Pocket Pivot or Buyable Gap-Up report has been issued will necessarily be added to the list. It is not intended as a "buy list" or a list of immediately actionable recommendations. Stocks on the list may or may not be in proper buy positions, and investors should exercise discretion and proper judgement in determining when and where stocks on the Focus List can be purchased. The following notes are intended to assist in this process. Please note that members can enlarge the Focus List image by clicking on the body of the email and then holding the Control Key while pressing the "+" key until it is large enough to read.

General Observations: 

The Dow is now within 1.5% of the 27,000 level after blasting through the 25,000 price level in early January. The trend since the breakout in early September has been quite steady, with the trend becoming more consistently pronounced throughout January. While the market rally looks "parabolic," one cannot discount the possibility that it could become more parabolic. This week will see a number of big-tech names report earnings, including four names on the Focus List, as we move into the "meatiest" part of earnings season.

Meanwhile, the NASDAQ Composite Index cleared the 7,500 level for the first time ever on Friday, while the S&P 500 Index is 4% away from the 3,000 level. The indexes have been smashing through milestones one after the other, and this has led to steady performance for the Market Direction Model (MDM) which is up 25.8% so far in 2018 using the 3x leveraged Direxion Daily Technology Bull 3X Shares (TECL) and 8.7% using the non-leveraged NASDAQ Composite as the benchmark. It remains on a buy signal.

Removed from the List this Week: Coherent (COHR).

Focus List Stocks Expected to Report Earnings this Week: Electronic Arts (EA) Tuesday, after the close; Facebook (FB) Wednesday, after the close; Alibaba (BABA) Thursday, before the open; Amazon.com (AMZN) Thursday, after the close.

Notable Action: 
Most Focus List names remain extended. Note that the Focus List at the top of this report is sorted by nearest earnings date as a convenient reference.

Caterpillar (CAT) reported earnings on Thursday and took shareholders on a wild ride. It initially gapped up at the open but then reversed hard as it dropped just below its 20-dema. However, by the close, it was up on the day and well above the 20-dema on very heavy volume. This would qualify as supporting action at the 20-dema. On Friday, CAT retested the 20-dema and held as volume declined. The 20-dema would continue to serve as a selling guide, as the stock has had a long run and could correct more severely.

Take-Two Interactive (TTWO) posted a new all-time closing high, but remains within its base. It has been buyable on pullbacks to its 20-dema as it has gone about the business of building what looks like a very constructive base. Watch for some sort of actionable move after EA reports earnings Tuesday after the close.

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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