Top 10 Report – December 16, 2019

Market Conditions

The general market is healthy and making constructive progress to the upside.

Market Sentiment

General market volatility is low and the crowd is unemotional and even keeled.

Market Status

We are in a confirmed uptrend and looking to establish long positions in the highest quality leaders, as entry areas present themselves.

Market Insight

The major indexes closed out another week of constructive strength today and distribution remains at manageable levels.

In the land of leading growth stocks semiconductor names displayed tremendous strength and led the market higher this week, not to mention, there was no shortage of medical/biotech names helping fuel the rally to new highs either.

Fortunately, the same leading sectors and industry groups we’ve been discussing over the last few weeks all remain in great shape. As a reminder, they were the technology, medical/biotech, retail, building, financial and transportation sectors. Also, no significant rotation has taken place over the last few weeks, so all the leading groups we’ve been discussing remain in play.

However, when leadership is this broad, watch lists tend to grow quickly and when the market is cooperating like it has been recently, it’s hard to not want to buy every stock that triggers an alert on volume. So, homing in on the very best of the best and waiting for the perfect entry to develop in terms of risk/reward is key.

So, continue to keep track of the strongest stocks in the strongest groups, with the best fundamentals. Set your alerts and be ready to buy these stocks as entry areas present themselves.

The Indicies

The NASDAQ blasted off on heavy volume and closed at new all-time highs last Thursday and Friday and finished off the week with a huge display of strength.

The Russell 2000 has continued to make constructive progress higher, but continues to trade well below its prior all-time highs and lag the other major indexes.

The S&P 500 blasted off on heavy volume and closed at new all-time highs last Thursday and Friday and finished off the week with a huge display of strength.

The DOW blasted off on heavy volume and made new all-time highs last Thursday and Friday and ended the week with a huge display of strength.

Top 10 Stocks

Buy ADSK on a big volume move through $181.36, with a sell stop at its 23-EMA. (Price Alert: $181.36)

Buy CYBR on a constructive pullback to $124.67, with a sell stop at its 200-DMA.

Buy OLED on a big volume move through $198.30, with a sell stop at its 50-DMA. (Price Alert: $198.30)

Buy PYPL on a big volume move through $108.49, with a sell stop at its 200-DMA. (Price Alert: $108.49)

Buy SE on a big volume move through $38.00, with a sell stop at its 23-EMA. (Price Alert: $38.00)

Buy SHOP on a constructive pullback to $376.91, with a sell stop at its 50-DMA.

Buy CMG on a big volume move through $825.60, with a sell stop at its 65-EMA. (Price Alert: $825.60)

Buy CROX on a big volume move through $36.99, with a sell stop at its 50-DMA. (Price Alert: $36.99)

Buy AMRN on a big volume move through $24.67, with a sell stop at $22.98. (Price Alert: $24.67)

Buy IOVA on a big volume move through $26.59, with a sell stop at $24.50 &/or on a constructive pullback to $24.12, with a sell stop at its 23-EMA. (Price Alert: $26.59)

Buy PCRX on a big volume move through $46.80, with a sell stop at its 23-EMA. (Price Alert: $46.80)

Stocks on Deck

The following list of stocks may become actionable at any time. If and when these stocks actually trigger a legitimate entry area, they will be included in the chart section above. Ticker symbols in red indicate extreme risk.

FTNT – Pivot point $106.00, sell stop 23-EMA. Long from $106.00 entry area, sell stop 23-EMA.
ALGT – Pivot point $174.92, sell stop 23-EMA.
DVA – Pivot point $73.50, sell stop 23-EMA.
RETA – Pivot point $215.10, sell stop 23-EMA.

Follow-up Commentary

The following list of stocks have triggered valid entries and are in the middle of a move, where other than sell stops, there is nothing else actionable to discuss. Ticker symbols in red indicate extreme risk.

Top 5 Follow-up Performers:

ALLK – Long from $92.84 entry area, sell stop $114.00.

 

BEP – Long from $36.51 &/or $37.94 entry areas, profits taken below its 23-EMA on 12/13.

 

CNNE – Long from $29.78 entry area, trailing stops for 1/2 at its 10-DMA and ½ at its 23-EMA.

 

LULU – Long from $194.25, $204.44 &/or $209.02 entry areas, trailing stops 23-EMA.

 

PTON – Long from $27.98 entry area, trailing stop 23-EMA.

 


ADBE – Long from $302.05 entry area, profits taken before EPS on 12/12.
AMD – Long from $35.55 &/or $37.18 entry areas, trailing stop 23-EMA.
CCC – Long from $17.80 entry area, sell stop triggered below its 65-EMA on 12/12.
CVNA – Long from $85.07 entry area, trailing/sell stop for 1/2 at its 23-EMA and 1/2 at 50-DMA.
EPAM – Long from $201.00 entry area, trailing/sell stop for 1/2 at its 23-EMA and 1/2 at 50-DMA.
FB – Long from $193.10 &/or $198.09 entry areas, sell stop 50-DMA.
LRCX – Long from $272.58 entry area, sell stop 23-EMA.
PCTY – Long from $112.46 entry area, profits taken below its 23-EMA on 12/12.
PING – Long from $21.00 entry area, sell stop $19.50.
UCTT – Long from $22.80 entry area, sell stop 23-EMA.
ACA – Long from $39.33 entry area, sell stop 23-EMA.
BURL– Long from $209.60 entry area, sell stop 23-EMA.
CPRT – Long from $82.81 entry area, trailing stop 23-EMA.
LOCO –Long from $15.44 entry area, sell stop 23-EMA.
PLNT – Long from $74.90 entry area, sell stop 200-DMA.
ACAD – Long from $44.10 entry area, profits taken below its 23-EMA on 12/11.
CCXI – Long from $32.35 entry area, sell stop 10-DMA.
CUTR – Long from $35.85 entry area, profits taken below its 23-EMA on 12/11.
INCY – Long from $89.30 entry area, trailing stop 23-EMA.
INSP – Long from $66.52 entry area, trailing stop 23-EMA.
ISRG –Long from $569.98 entry area, trailing stop 23-EMA.
NEO – Long from $26.48, entry area, sell stop 23-EMA.
RGEN – Long from $86.08 entry area, trailing stop 23-EMA.
TXG – Long from $59.10 entry area, sell stop triggered below its 23-EMA on 12/12.



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