fb
X
X
Tired?
Unfocused?
Off your game?
Read our free, updated as of Mar 3, 2022, Dr K report on how to optimize your mind and body so you can boost your focus when trading the markets.
YES, SEND ME THE REPORT !
Meet Dr K !
Chris Kacher
  • Nuclear physicist
  • Stock & crypto market wizard
  • Blockchain builder
  • Bestselling author
  • Top 40 charted musician
  • Biohacker
  • Former computer hacker
YES, SEND ME THE FILE !
YES, SEND ME BOTH !
Your email will always remain private.

MLR - PMP 10/14/14

The major market averages took another tumble yesterday on lower but still above average volume. The lower volume was due in part to the Columbus Day holiday with the stock market open but the bond market closed for the day. All major averages have breached and undercut their 200-day moving averages as well as their early August lows. This time, the market has ignored oversold or contrarian indicators that had a good track record since QE3 began in January 2013 up until now, which tells us that the market is readying for an end to QE3 in addition to economic issues in Europe and a semiconductor index that started dropping precipitously on weak earnings news from major companies in this space. Expect a continuation of elevated volatility in the days ahead, both on the upside and downside.

Given the position of the indexes, a reaction rally from here is possible, and this morning the futures are up sharply. As well, short-sale target Tesla Motors (TSLA) hit its 40-week/200-day moving average yesterday, which was our initial downside price target for the stock. LinkedIn (LNKD), another short-sale target, also "kissed" its 200-day moving average. In both cases the action sets up at least a short-term bounce that should be watched for as it moves up into potential resistance.

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. ©2024 MoKa Investors, LLC DBA Virtue of Selfish Investing. All rights reserved.
FOR OUR FREE MARKET LAB REPORT :
Copyright ©2024 MoKa Investors, LLC DBA Virtue of Selfish Investing.
All Rights Reserved.
privacy policy