Market Lab Report - Premarket Pulse 7/29/15
The two-day Federal Reserve meeting concludes today with a statement due out at 2 p.m. EST. The odds of a rate hike in September are lower due to market turmoil in China and a continuing slide in commodity prices including oil. The Commodity Research Bureau Index is at 6-year lows, and is very close to breaking to 13-year lows. Thus, the dovish Fed's hands are tied in terms of hiking rates seeing that weak demand is indicative of a recessionary global economy.
Meanwhile, we had a number of new pocket pivots hit our radar. This does not mean to buy blindly since the market may not have yet found a floor. That said, the best stocks will often start to rise ahead of the pack, so keep a close watch and position size in line with your risk tolerance levels.
Pharmaceutical maker ANIP had a pocket pivot. Earning are accelerating, pretax margin 34.6%, institutional sponsorship has grown over the last 8 quarters, group rank 9.
Healthcare savings company HQY had a pocket pivot. Earnings and sales are accelerating, institutional sponsorship has grown since the company went public 4 quarters ago, group rank 51.
Airliner JBLU had a pocket pivot. Earnings are skyrocketing, group rank 94.
Medical product company EW had a pocket pivot on a strong earnings report. Pretax margin 20.6%, earnings are accelerating, group rank 18.
Biotech XON had another pocket pivot. Earnings and sales are soaring, group rank 2. We reported on XON's earlier pocket pivot on 6/5.
Visualized analytics software company DATA had a pocket pivot. Earnings and sales are soaring, institutional sponsorship has grown over the last 6 quarters, group rank 21.
Website hosting company GDDY had a bottom fishing pocket pivot. While the company is a strong leader in its space, it is an IPO with no earnings out to 2016 so is speculative, thus of higher risk.
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. ©2016 Virtue of Selfish Investing, LLC. All rights reserved.