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VoSI Market & Report Watch List Review for the Week Ended December 27, 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: 
The major market indexes continue to forge record highs into year-end as the NASDAQ Composite Index cleared the 9,000 level for the first time. While the trend has not been what we would call a "big money" type of trend, it has remained persistent, but as it becomes more extended the odds of a meaningful pullback increase. Thus, we were not surprised to see the NASDAQ reverse off its intraday highs on Friday, what would have been the 12th straight up day for the index on higher but still below-average volume.

Precious metals gold and silver were on a tear this past week. While the SPDR Gold Shares (GLD) and the iShares Silver Trust (SLV) moved in lock-step, it was the SLV that posted the strongest performance, posting a pocket pivot at the 50-dma on Tuesday which we reported on. Previously, we reported on the U&R long entry signal in the SLV earlier in December when it undercut and then rallied back above the prior 15.55 low in the pattern. We believe QE4 is already a factor given the sharp increase in the Fed's balance sheet that began in early September, and the moves in the metals are likely related. Both the GLD and the SLV are now running into resistance along their prior October-November highs.

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

We added Netease (NTES) to the Report Watch List after reporting on its pocket pivot this past Thursday. The stock is pulling into the 10-dma here following Thursday's pocket pivot, putting it in a lower-risk entry position using the 10-dma as a tight selling guide.

Activision (ATVI) has met up with the 10-dma as it forms a tight sideways flag following a breakout earlier in the month. We prevously repoerted on ATVI as a pocket pivot within the base on December 5th. With the stock at the 10-dma, this offers a secondary entry. However, we would prefer to watch for any opportunistic pullbacks to the 20-dema as lower-risk entries.

Adaptive Biotechnology (ADPT), which continues to build the lows of a possible new base (this is still unclear), has pulled into the most opportunistic of entry points at its 50-dma. Volume has been declining over the past three trading days and ADPT held tight on Friday with Thursday's close. The 50-dma becomes your tight selling guide here.

Biogen (BIIB) is pulling into the 10-dma on light volume. This offers a lower-risk entry using the 10-dma as a tight selling guide or the 20-dema as a wider selling guide depending on risk-preference.

Inphi (IPHI) pulling  down towards its 10-dma on very light volume following a pocket pivot at the 10-dma on Thursday. This brings it into a lower-risk entry position using the 10-dma as a tight selling guide or the 20-dema as a wider selling guide depending on risk-preference.

Ultra Clean Holdings (UCTT) has pulled into its 10-dma with volume drying up sharply. A lower-risk entry using the 10-dma as a tight selling guide or the 20-dema 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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