Week in Review - Saturday Dec 28th

Not a whole lot going on this week. I bought one stock, EMB, which I’ll talk about in a minute, and didn’t add to any of my current positions.

Here’s what I’m holding right now.

The market as a whole looks risky to me. Both the NYSE and the NASDAQ composite indexes have printed bear flags. While I was doing my scans this morning I saw a lot of charts that had bear flags as well.

Here’s the NYSE

I bought EMBC this week, and the main reason I bought it was that it showed awesome relative strength on the distribution day visible in the NYSE chart above.

Not only did it finish in the green but it did so on above average volume while bouncing off the 20 day moving average.

I went into greater detail about the EMBC purchase here.

My DOCS position look like it may be ready to add to soon. Same goes for ONON, but I like DOCS better because it’s trading above the 10 and 20 day moving averages. I also like it because I have some decent profit on it to lean on for more aggressive adds.

YMM is looking decent and may be ready for an add as well if it turns back up. I’d like to give it some time first and see how it acts Monday off the 20 day. Right now it’s pinched between the 10 and 20 so I’d expect to see something happen pretty soon.

And that leaves us with NVDA, which has also formed some sort of pivot but it’s not actionable yet either. I’m going to give it more time but I can be a little aggressive adding to the position because I have some paper profit to lean on.

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