PPR - JJS
JJS is issuing a pocket pivot, provided it stays strong relative to the general market. This was recommended on the prior buy signal, then the model issued a neutral signal as the fail-safe kicked in. That said, those who kept their JJS can use an intraday move below yesterday's low as a sell stop as this would be a violation of its 50 day moving average. Those who sold their JJS might reinitiate their position.
Since the day is not yet over, there is only a small chance the potential pocket pivot seen in JJS may not qualify. As a rough guide, if the market closes up, JJS should close in the top half of its trading range at the very minimum. If the market closes near the low of its trading range, or is down for the day, JJS should still close roughly in the top 2/3 to 1/2 of its trading range. It's relative.
Note, it appears JJS has an error in its data feed across all real-time data services so its high is currently at 89.14, not 92.95.
This information is provided by Virtue of Selfish Investing, LLC (VoSI) is issued solely for informational purposes and does not constitute an offer to sell or a solicitation of an offer to buy securities. Information contained herein is based on sources which we believe to be reliable but is not guaranteed by us as being accurate and does not purport to be a complete statement or summary of available data. VoSI reports are intended to alert VoSI members to technical developments in certain securities that may or may not be actionable, only, and are not intended as recommendations. Past performance is not a guarantee, nor is it necessarily indicative, of future results. Opinions expressed herein are statements of our judgment as of the publication date and are subject to change without notice. Entities including but not limited to VoSI, its members, officers, directors, employees, customers, agents, and affiliates may have a position, long or short, in the securities referred to herein, and/or other related securities, and may increase or decrease such position or take a contra position. Additional information is available upon written request. This publication is for clients of Virtue of Selfish Investing, LLC. Reproduction without written permission is strictly prohibited and will be prosecuted to the full extent of the law. ©2013 Virtue of Selfish Investing, LLC. All rights reserved.