Top 10 Report – September 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.

PLEASE NOTE: Just because a stock is breaking out on big volume from the Top 10 Report or Stocks on Deck list, it does NOT automatically become a buy. This is not a black box system and many other factors are taken into consideration when a decision to buy or sell is being made.

Market Insight

Good Morning,

Since the NASDAQ and S&P 500 have continued to make constructive progress above their 50-DMA’s over the last several days and the distribution count has dropped to 2 days on the NASDAQ and 1 on the S&P 500, which is considered low and not at all a concern.

Meanwhile, the market’s leadership is still undergoing the process of rotation. Over the last week or so, money has been pouring out of extended leaders, most notably cloud software names, and seems to be finding its way into leading stocks in the financial, semiconductor and retail areas of the market. Not to mention, there are still more than a few medical/biotech stocks exhibiting strength and forming constructive bases as well.

However, extreme volatility like we are currently seeing makes progress difficult. So, be very selective, start small and scale in, but only if progress is being made.

Always remember, “buying right” is our first line of defense and a major component of sound risk management, so remain disciplined and wait for perfect setups to emerge. Never chase!

Sincerely,

The Indicies

The NASDAQ has continued to make constructive progress above its 50-DMA over the last several days, as it closes in on new all-time highs.

The small-cap Russell 2000 has made significant progress back above all of it moving averages over the last week and it is now up against its declining tops trend line. A close back above this key area of resistance would be considered very bullish.

The S&P 500 has continued to make constructive progress above its 50-DMA over the last several days, and it is now just a hair away from new all-time highs.

The DOW has closed higher for the last 8 days in a row and finished last week just a hair away from new all-time highs.

Top 10 Stocks

Buy CRUS on a big volume move through $55.77, with a sell stop at its 23-EMA &/or on a constructive pullback to $54.52, with a sell stop at its 23-EMA. (Price Alert: $55.77)

Buy ESTC on a big volume move through $96.72, with a sell stop at its 50-DMA &/or on a constructive pullback to $90.00, with a sell stop at its 65-EMA. (Price Alert: $96.72)

Buy IPHI on a big volume move through $63.65, with a sell stop at its 50-DMA. (Price Alert: $63.65)

Buy KEYS on a big volume move through $100.00, with a sell stop at its 23-EMA &/or on a constructive pullback to $93.86, with a sell stop at its 50-DMA. (Price Alert: $100.00)

Buy NTES on a big volume move through $282.74, with a sell stop at $270.38 &/or on a constructive pullback to $270.38, with a sell stop at its 200-DMA. (Price Alert: $282.74)

Buy TER on a big volume move through $58.61, with a sell stop at $54.00. (Price Alert: $58.61)

Buy TXN on a big volume move through $130.37, with a sell stop at its 50-DMA. (Price Alert: $130.37)

Buy FND on a big volume move through $49.90, with a sell stop at its 23-EMA &/or on a constructive pullback to $48.72, with a sell stop at its 23-EMA. (Price Alert: $49.90)

Buy GSHD on a big volume move through $48.42, with a sell stop at its 50-DMA. (Price Alert: $48.42)

Buy RCII on a big volume move through $26.28, (50-DMA) with a sell stop at its 65-EMA &/or on a big volume move through $27.02, with a sell stop at its 50-DMA. (Price Alert: $26.28)

Buy AXSM on a big volume move through $26.45, with a sell stop at its 50-DMA. (Price Alert: $26.45)

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.

AMZN – Pivot point $1,866.73, sell stop 65-EMA.
EBAY – Pivot point $41.41, sell stop 65-EMA.
EGOV – Pivot point $21.98, sell stop 23-EMA.
MSFT – Pivot point $140.38, sell stop 50-DMA.
PRFT – Pivot point $38.80, sell stop 50-DMA.
SNAP – Pivot point $16.64, sell stop 50-DMA.
TDOC – Pivot point $74.00, sell stop $68.00.
ALLY – Constructive pullback to $34.23, sell stop $31.50.
LULU – Constructive pullback to $194.25, sell stop 65-EMA.
TPX – Pivot point $80.00, sell stop 50-DMA.
AMPH – Pivot point $22.85, sell stop 200-DMA.
BLFS – Pivot point $21.00, sell stop $20.00.
CBPO – Pivot point $101.23, sell stop 65-EMA. Long from $100.00 &/or $101.23 entry areas, sell stop 65-EMA.
CNMD – Pivot point 4102.56, sell stop 23-EMA.
HZNP – Constructive pullback to $25.56, (50-DMA) sell stop 200-DMA.
ZYNE – Pivot point $12.51, sell stop 50-DMA.

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.

BAND – Long from $82.66 entry area, sell stop triggered below its 65-EMA on 9/10.
ENTG – Long from $45.12 entry area, sell stop $43.00.
PAYC
 – Long from $230.89 &/or $231.86 entry areas, sell stop triggered below its 65-EMA on 9/10.
PDD –Long from $30.98 entry area, trailing stop $33.00.
SHOP – Long from $338.94 entry area, profits taken on ½ below its 23-EMA on 9/9 and ½ below its 50-DMA on 9/10.
SNPS – Long from $131.39 entry area (50-DMA), profits taken below its 50-DMA on 9/11.
SWCH – Long from $14.00 entry area, profits taken below its 23-EMA on 9/10.
TWTR – Long from $40.92 &/or $42.33 entry areas, tailing stop 23-EMA.
BEP – Long from $36.51 entry area, sell stop 50-DMA.
CMG –Long from $749.25 entry area, profits taken on ½ below its 23-EMA and ½ below its 50-DMA on 9/10.
CSIQ – Long from $22.93 entry area, sell stop triggered below its 65-EMA on 9/9.
FIVE – Long from $129.94 entry area, sell stop 200-DMA.
GO – Long from $35.63 &/or $39.56 entry areas, profits taken/stop triggered below $39.56 on 9/9.
LK – Pivot point $22.00, sell stop 65-EMA.
MTH – Long from $64.71 &/or $65.86 entry areas, sell stop 23-EMA.
ARWR – Long from $20.28, $28.84 &/or $30.73 entry areas, profits taken and sell stop triggered below its 50-DMA on 9/9.
BBIO –Long from $31.64 entry area, sell stop triggered below $29.10 on 9/9.
CSII – Long from $41.19 &/or $45.61 entry areas, trailing stops for ½ at its 23-EMA and ½ at its 50-DMA..
NEO – Long from $24.31 &/or $24.84 entry areas, sell stops triggered below its 65-EMA on 9/9.
RGEN – Long from $70.50 entry area, profits taken below its 50-DMA on 9/9. Long from $94.33 entry area, sell stop triggered below its 50-DMA on 9/9.
STOK – Long from $31.76 entry areas, sell stop triggered below its 23-EMA on 9/10.



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September 15, 2019

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