Indecision

The markets went sideways today but there were still stocks on the move. We sold the the DECK Calls we bought last week for +14% in just 2 trading days. Our members made nice profits in MCHP and CRON. Two of our trade ideas worked out very well today – ARWR and MAT up 8% and 3.3% respectively.

The U.S. futures formed a Doji on Monday after successfully holding the 2675 level on Friday. Meanwhile the StochasticRSI oscillator continues to fall which, with Price holding, I interpret as a Bullish sign (see chart below). I expect the next move higher could come in the next couple of days. As we have said before be patient and wait for your setups.

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✅ Our focus continues to be on earnings stocks and those that are “on their own page”. This is just a pullback in an overall Up trend so we will be looking for Bullish setups … at least until the charts tell us differently.

The T2122 4 Week New High / New Low Ratio chart shows the breadth of the market where the number of stocks making new monthly Highs outnumber those making monthly Lows by nearly 9 to 1 (see chart below).

Notable Earnings 2/12/2019:

BHF, CHGG, FIS, FMC, HUN, NNN, OHI, OMC, SHOP, TAP, USFD, VNO, WEC, WELL

✅ Tuesday’s Long watchlist includes:  CHGG, BHF, HTZ, CAR, TNDM, NVRO, JELD, RHI, SKX, MYL, SYF, ALGN, ROST, STLD, MDCO, LUV, EFX, MA

✅ Tuesday’s Short watchlist includes:  FMC, OHI, BIG, KSS

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