MLR - PMP 1/28/15

Published : January 28 2015 at 8:48 ET

Major averages gapped lower yesterday on mixed volume with the NASDAQ logging a distribution day. The choppy rip-tide action of markets since December makes timing the market quite treacherous. The sidelines are often a good place to be during such times. The Fed will be coming out with its monthly policy announcement, which could add to the volatility. Meanwhile, stocks on the long or short side can continue to offer opportunities on a stock-by-stock basis. Stay tuned.

Apple (AAPL) AAPL crushed estimates on record iPhone sales. NASDAQ futures are up 0.95% at the time of this writing as a consequence of AAPL gapping higher by more than 5% in after hours trading. If this pans out as a buyable gap-up we will report on it later this morning.

Microsoft (MSFT) and Caterpillar (CAT) both gapped lower yesterday. at the open on weak earnings reports.

Members who might have shorted Workday (WDAY) per our pre-market pulse report of Monday morning at the 200-day moving average should continue to use that as a guide for an upside stop. Meanwhile Tesla Motors (TSLA) has rallied up to its 20-day moving average where it may be shortable, but keep in mind that earnings out due out in the latter half of February.

S&P futures are up about 0.3% at the time of this writing, while NASDAQ 100 futures are up just over a percent thanks to AAPL's impending gap-up at the open.

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.