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Market Lab Report - Premarket Pulse 3/2/17

Published : March 2 2017 at 9:03 ET

Major averages gapped higher yesterday after Trump's speech and continued to move higher throughout the day on lower but above average volume. Financials led the charge as the XLF gapped to higher highs after several Fed heads expressed hawkish views in favor of a rate hike in March. The lower volume was unsurprising after Tuesday's spiking volume as nervous institutions sold ahead of Trump's speech.

Focus List Update

GKOS had a pocket pivot off its 20-dema. GKOS is gapping up this morning after earnings and should be watched for a possible actionable buyable gap-up move.

VEEV had a wild day yesterday as it gapped down at the open but then shook out sellers and reversed back to the upside on a pocket pivot move. It gapped lower after reporting earnings then after further selling near the open, rallied the rest of the day to finish in the upper part of its trading range. It can be psychologically tough to buy back after having sold it earlier in the day, but some stocks have acted in this manner to well outperform the markets after such price/volume action. That said, VEEV was quite volatile in yesterday's trade so it may exceed your risk tolerance levels.

ZION gapped higher just as many other financials did after Trump's speech.

BOX had a pocket pivot off its 20-dema.

CUDA had a pocket pivot yesterday. The stock remains in a buyable position using the 50-dma as a selling guide.

FTNT had a supporting pocket pivot yesterday at the 20-dema and is in a buyable position using the 20-dema as a selling guide.

JD is gapping up this morning after earnings and should be watched for a possible actionable buyable gap-up move.

MOS has breached its 50-day moving average and is now on the verge of violating the line.

NFLX continues to hold tight in constructive fashion.

NTES found support at it 10-dma on above-average volume as it held above the $300 Century Mark.

NTNX is expected to report earnings today after the close.

QTNA has pulled into its 20-dema in constructive fashion, putting it in a lower-risk entry position.

TWLO continues to hold tight at its 20-dema, putting it in a lower-risk entry position using the line as a selling guide.

X pulled a "re-breakout" move but has stalled around the $40 price level.


This information is provided by MoKa Investors, LLC DBA Virtue of Selfish Investing (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. Reproduction without written permission is strictly prohibited and will be prosecuted to the full extent of the law. ©2017 MoKa Investors, LLC DBA Virtue of Selfish Investing. All rights reserved.