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VoSI Market & Report Watch List Review for the Week Ended August 2, 2019

Current Report Watch List
The VoSI Report Watch 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 List can be purchased. The following notes are intended to assist in this process. Please note that members can enlarge the 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 indexes came under pressure on Wednesday and Thursday, selling off on heavy volume Wednesday after the Fed policy announcement and specifically during Fed Chairman Jerome Powell's press conference. On Thursday, the indexes were rallying for a good part of the day before President Trump tweeted that he was preparing to raise tariffs on China and expand the tariffs to an additional $300 billion in goods and services. This sent the indexes reversing hard on a brutal reversal to the downside. On Friday, the indexes gapped down, but the NASDAQ Composite, S&P 500, and Dow Indexes were able to hold support at their 50-dma. This may produce a reaction bounce to start the week off, but we would remain on high alert. Review your selling guides and trailing stops for current positions and be ready to raise cash as necessary. While QEInfinity creates relatively shallow floors, major averages can fall sharply over a period of days or weeks as we have seen over the years in this Era of QE.

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

Focus List Stocks Expected to Report Earnings this Week: Shockwave Medical (SWAV) on Monday after the close, Tronox (TROX) on Tuesday after the close, CyberArk Software (CYBR) before the open and IAC/Interactive Corp. (IAC) after the close on Wednesday, and The Trade Desk (TTD) on Thursday after the close.

We reported on Apple (AAPL) after it reported earnings on Tuesday after the close as a buyable gap-up (BGU) set-up that was actionable using the usual BGU rules that dictate using the 211.30 intraday low of the BGU day as a selling guide. AAPL slashed below that price level on Thursday following the President's tweet, and continued lower and through the 20-dema on still heavy, well above-average selling volume.

AAPL's move on Wednesday was also a breakout attempt, but breakouts in this market have met with marginal, often fleeting success where stocks may fail immediately or move 10-15% higher before giving back those gains, such as we've seen in the recent breakout in CyberArk Software (CYBR), for example. AAPL has been removed from the Report Watch List.

In order to provide a more comprehensive review of the current Report Watch List given the volatile change in market conditions this past week, Gil Morales has prepared a short video discussing all the names currently on this list. The video can be viewed here: https://youtu.be/QTOmTZluYlU

Please give us your feedback on the video report format. Would you prefer it to written reports when appropriate, or would you prefer to see a mix of content formats in our reports? We thank you in advance for your input.

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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