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VoSI Focus List Review for the Week Ended January 5, 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: 
Major market averages started the year out with a bang, posting four straight up days in the first week of trading in 2018. In the process, the Dow Jones Industrials Index cleared the 25,000 price level for the first time in history. The indexes are of course well-extended from their breakout levels at the beginning of the week. We could see a normal pullback at any time, as some investors may look to take profits in names that have had strong moves ahead of earnings season, which begins to move into full force over the next two weeks.

The Market Direction Model (MDM) remains on a buy signal.

Removed from the List this Week: None

Focus List Stocks Expected to Report Earnings this Week: None.

Notable Action: 
Caterpillar (CAT) is extended after finding strong support at the 10-dma, which can serve as an initial selling guide for those playing this close to the vest.

Facebook (FB) has broken out, but on light daily volume. However, the weekly chart reveals a breakout from a base-on-base formation on higher weekly volume.

Netflix (NFLX) was added back to the Focus List by virtue of its pocket pivot move of the prior week at the 50-dma. It ended the week just below the 50-dma, but remained actionable. Interestingly, at the time, it appeared that overhead resistance might present a near-term issue for the stock as it would likely have to work its way through it. That did not happen as talk from a Citigroup analyst of a "40% chance that Apple (AAPL) would buy NFLX out sent the stock gapping higher at the beginning of this past week. That move sustained and became a base breakout on higher weekly volume.

Most of these big-stock NASDAQ techs and internets were dormant throughout much of the last 1-2 months of the year, but many have begun to break out again, including Amazon.com (AMZN). However, we favor these base-on-base formations since they show that names like FB and NFLX have put in a fair amount of time building longer base formations, which is often helpful in setting up more sustained upside moves. NFLX is expected to report earnings on January 22nd, and FB on January 30th, so we shall see whether their current action is foreshadowing strong earnings reports. We would note that NFLX has the better profit cushion if one had acted on the pocket pivot of two Thursdays ago.

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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