Market Lab Report - Premarket Pulse 7/31/15
The dollar tumbled Friday after an index measuring the price of U.S. labor declined sharply in the second quarter. Wage inflation thus remained weak in the second quarter indicating the labor market may not be as strong as employment data had reported. The Fed may therefore delay an interest-rate increase. Any data that could inspire the Fed to delay a hike tends to weaken the dollar while strengthening the stock market. Stock market futures moved higher on the news.
As the market bounces, new names continue to offer pocket pivot points including:
Cloud-based e-commerce platform provider SHOP had a buyable gap up on a strong earnings report. Sales are growing strongly. Given this is an IPO with no earnings, it is a speculative play.
Medical device maker ABMD had a pocket pivot breakout. Earnings are soaring, sales are accelerating, group rank 20. ABMD reports earnings before the open on Aug 4.
Pharmaceutical drug maker CBM had a pocket pivot on a strong earnings report. Earnings are skyrocketing, institutional sponsorship has grown over the last 4 quarters, group rank 20.
Discount airline ALGT had a pocket pivot on a strong earnings report. Earnings are soaring, ROE 34.1%, group rank 80. The low price of oil is helping airline stocks.
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.