MLR - PMP 2/19/14

Published : February 19 2014 at 8:44 ET

The major market averages were up yesterday on higher volume. With the NASDAQ Composite at new highs and the S&P 500 closing in on new highs, the uptrend appears to be repeating the same pattern since January 2013 thus underscoring a resumption of the uptrend. Biotech and various medical stocks outperformed as they have been doing so far this year. The Market Vectors Biotech ETF (BBH) continues to outperform.

Telecom infrastructure provider Ubiquiti Networks (UBNT) broke out of a base. Group rank is 14, ROE 59.3%, soaring earnings and sales, and institutional sponsorship has grown over the last 4 quarters.

Advanced Energy Industries (AEIS) had a pocket pivot on 1/31/14. It is broadening its focus into the solar energy space which is the number 1 ranked group at present. It is currently trading roughly where it closed on 1/31/14 so is actionable. Its recent earnings and sales have accelerated. Institutional sponsorship has grown over the last 4 quarters.

Solar power company Solar City (SCTY) had a pocket pivot breakout yesterday. Earnings are expected to come out in the first week of March.

Valeant Pharmaceuticals (VRX) had a pocket pivot yesterday. Group rank is 3, sales are accelerating, pretax margin 41%, ROE 36.9%.

Airline internet service provider Global Eagle Entertainment (ENT) had a pocket pivot breakout. ENT secured a deal with China Air. Sales are soaring, group rank 8. ENT provides airline passengers with internet access, live television, and related services.

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