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VoSI Focus List Review for the Week Ended May 29, 2020

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 general market remains in an uptrend after a volatile week. The NASDAQ Composite and S&P 500 Indexes posted their highest closing highs since the March lows. The S&P is now holding above its 200-day moving average where it found support on Friday. It now serves as a clear reference for support on the downside. Meanwhile, the NASDAQ Composite, led by big-stock NASDAQ 100 names, is within 3.5% of its all-time highs, a feat that seems illogical from the perspective of severely deteriorated underlying economic conditions but certainly not from the standpoint of extreme QE-Infinity from the Fed. For now, the uptrend remains intact.

The Market Direction Model (MDM) remains on a CASH/NEUTRAL signal.

More big-stock NASDAQ names joined the fray on Friday with both Cisco Systems (CSCO) and Oracle (ORCL) posting pocket pivots off their respective 10-day moving averages. These are likely best bought on constructive pullbacks to the 10-day line.

Meanwhile, big-stock NASDAQ names previously on the Focus List continue to act constructively. Facebook (FB) has pulled into its 10-day moving average on light volume which puts it in a lower-risk entry position at the top of its prior breakout point, using the 10-day line as a selling guide. Intel (INTC) posted a pocket pivot on Friday.

Tesla (TSLA) also posted a pocket pivot and remains in a b unable position using either the 10-day moving average or the 20-day exponential moving average as selling guides, depending on risk preference.

Everquote (EVER) was reported on as a pocket pivot on Wednesday as it posted a big outside reversal to the upside on heavy volume, a move that qualified as a pocket pivot at the 10-day moving average. It attempted to breakout on Thursday but failed, finding support within the base on Friday. Pullbacks to the 10-day line would offer lower-risk entries given the stock’s volatility.

Alternative currencies continue to act constructively. Silver gapped higher on Friday after holding support along the 200-day moving average The Sprott Physical Silver Trust (PSLV) is now approaching its prior February highs. Meanwhile, the Sprott Physical Gold Trust, not shown, remains in a consolidation extending back to late March. Gold futures have remained roughly within a range between $1700 and $1750 an ounce, and we looking for an eventual breakout.

Bitcoin is consolidating normally after a sharp run-up off the March lows. Most recently, the Grayscale Bitcoin Trust (GBTC)  has been buyable along its 200-day moving average per our numerous reports. That remains the case for now, although an alternative entry here along the 20-day exponential moving average is possible using the 20-dema as a tight selling guide or the 200-day line as a wider selling guide depending on risk-preference.

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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