April 19, 2020

Stocks rounded out an excellent week on Friday, with the Nasdaq printing three major accumulation days in the last four sessions. Price is now above the 50-day moving average line, a litmus test for the intermediate-term trend.

It would hardly be a surprise to see the market pull back in order to keep participants "honest." This would be viewed as a plus since it would allow some of the leading names to offer secondary entry points.

At the moment, there are not many actionable setups. This is a function of the big rally last week and the fact that the best merchandise normally breaks to new highs before everything else. At the same time, there are a number of issues working on the right sides of their bases which should become actionable in due course.

The Watch List being 67 names deep is a good sign of things to come, at least in terms of potential buy candidates.

If you find yourself under-invested because you were fearful that stocks would reverse and resume their prior downtrend, there will be plenty of opportunity should this market continue to appreciate.

May the action of the past week serve as a lesson in how when the market turns, one should absolutely be armed with a list of the best actors along with suitable entry points, and be ready to buy.

Advanced Micro Devices (AMD)

ChemoCentryx (CCXI)

Insulet (PODD)

Repligen (RGEN)

Teladoc Health (TDOC)

Zai Lab (ZLAB)

Zoom Video Communications (ZM)

In sum, the market continued its strong ways last week. Speculators should be entering names discussed in these reports and the Focus List without hesitation. If one is still hesitant about investing, smaller positions may be in order until more confidence is attained. Let's continue to maintain an open mind as to what may occur as we move forward.

Kevin Marder

For intraday ideas and analysis: https://twitter.com/mardermarket

All stock charts created using MarketSmith. ©2020 MarketSmith, Incorporated. All other charts created using TradeStation. ©2001-2020 TradeStation Technologies. All rights reserved.

The views contained herein represent those of Marder Investment Advisors Corp. At the time of this writing, of the stocks mentioned in this report, Marder Investment Advisors Corp., Kevin Marder, or an affiliate thereof held no positions, though positions are subject to change at any time and without notice. Estimate data provided by FactSet. Expected earnings release dates provided by EarningsWhispers.