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VoSI Focus List Review for the Week Ended October 6, 2017

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. 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 indexes continue to forge new highs, with the NASDAQ Composite Index closing up for nine straight days, while the S&P 500 and Dow Jones Industrials Indexes both paused on Friday after posting eight straight up days in a row. So far, the market rally shows no signs of abating. The star of the market has been the Russell 2000 Index, which has been on a tear since late August, as the chart of its closest proxy, the iShares Russell 2000 Index ETF (IWM) shows below. Since August 21st, the  small-cap index has rallied approximately 11.5%, and has spent the last three days consolidating those gains as IWM volume declines in constructive fashion.

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

Removed from the List this Week: None

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

Notable Action: 

Arista Networks (ANET) moved to new highs on Friday on higher volume relative to the prior day but -15% below average. The stock was last buyable along the 10-dma per our prior Focus List Notes during the week.

Alibaba (BABA) is holding in a very tight four-day range that forms the handle of a miniature cup-with-handle formation. Volume declined to -53% below average on Friday, which when combined with the very tight price action may imply that a move to new highs is likely.

FireEye (FEYE) broke out of a two-week flag formation this past Tuesday on a pocket pivot volume signature. It remains extended from the point where it was first added to the list after posting a buyable gap-up (BGU) on September 7th.

Netflix (NFLX) broke out of a cup-with-handle base on Thursday on very heavy buying volume. It is now slightly extended from the breakout point.

Take-Two Interactive (TTWO) broke out to all-time highs on Friday on volume that was 9% above-average. The stock is currently out of buying range. Among the three video-gaming stocks, TTWO has been the de facto "monster stock" leader.

Vertex Pharmaceuticals (VRTX) posted a pocket pivot at the 10-dma on Monday of this past week and then held tight along the 10-dma for the next three days before rallying on Friday to post a five-day pocket pivot coming up through the 50-dma on volume that was 50% above-average. Invoking the moving average undercut & rally (MAU&R) long set-up, this is buyable here using the 50-dma as a very tight selling guide.

Weight Watchers International (WTW) has exhibited erratic behavior after posting a strong pocket pivot move off the 50-dma on Monday. On Tuesday the stock gave up all of Monday's gains, and then on Wednesday held tight at the 50-dma before rallying back up to higher highs on an intraday basis on Thursday before reversing on increased, but well below-average volume. It is now sitting at the 50-dma with volume drying up to -56% below average. Objectively, despite the prior erratic action, this would offer a lower-risk entry point using the 50-dma as a tight selling guide.

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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