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VoSI Market & Report Watch List Review for the Week Ended December 20, 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 posted all-time highs again, with the NASDAQ Composite Index posting its eighth straight up day in a row.

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

We reported on Biogen (BIIB) on Friday after it posted another pocket pivot within a two-month base. This remains within buying range using the 20-dema as a selling guide.

Recent bio-tech IPO Adaptive Technologies (ADPT) continues to round out the lows of a potential new base as it makes higher highs off those low. It has posted several pocket pivots along the lows, which we have previously reported on. On Friday ADPT posted another pocket pivot on heavy options expiration volume. The stock is best bought on small pullbacks to the 10-dma or 20-dema.

Last weekend we discussed watching for a possible undercut & rally (U&R) long set-up materializing if Facebook (FB) were able to rally back above the early December low in the pattern at 195.08. FB did that on Monday, triggering a typical U&R long entry signal at that point while using the 195.08 prior low as a tight selling guide. That resulted in four more days of upside as FB streaked to higher highs in a steep, v-shaped move to higher highs. It is now extended, but demonstrates the utility of using U&R long set-ups in this volatile market.

Inphi (IPHI) continues to work on what is now a seven-week consolidation following a buyable gap-up (BGU) move back in late October. It posted a pocket pivot this past Thursday and remains in a buyable position using the 10-dma or 20-dema as selling guides.

Tesla (TSLA) has cleared the $400 Century Mark for the first time since its history. We originally reported on the stock two weeks ago as it was posting a pocket pivot at the 10-dma and 20-dema. It has since rallied higher, and is in a buyable position based on Jesse Livermore's Century Mark Rule. In this case, one uses the $400 level as a selling guide for shares purchased above that price level, per Livermore's rule.

Ultra Clean Holdings (UCTT) has posted four pocket pivots over te past month as it forms a new base. We originally reported on the stock when it posted one of the earlier pocket pivots along the 10-dma and 20-dma. It posted its fourth pocket pivot on Friday on very heavy options expiration volume. Nevertheless, the stock remains actionable here using the 10-dma or 20-dema as your selling guides

Other names on the list remain extended, including AAPL, ATVI, CROX, LULU, MSFT, and V, and have performed reasonably well since we first reported on them. The current Report Watch List appears to offer a useful list of long candidates. The only issue then becomes waiting for lower-risk entry opportunities to show up. For now, the market trend remains up, so looking for such entries in individual stocks on the list remains quite viable until the market tells us otherwise.  
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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