MLR - PMP 2/21/14

Published : February 21 2014 at 8:35 ET

The major market averages rose on mixed volume on mixed volume as the NASDAQ led the way higher on heavier trade. The underlying tone of the market continues to improve as a number of names had quality pocket pivots and buyable gap ups which bode well for the internals of the market.

Trinity Industries (TRN) had a buyable gap up on a strong earnings report. Group rank 17, accelerating earnings and sales. TRN tends to obey its 50dma.
Tesla Motors (TSLA) had a buyable gap up after reporting strong earnings. We have reported on TSLA in prior reports.

Pocket pivots: (PCLN) - Volume surged just near the close, and the stock then gapped up after hours due to a strong earnings report. We have reported on PCLN before.

Aercap Holdings (AER)- the company leases aircraft and aircraft engines and has a group rank of #29. A strong earnings report initially had the stock selling off yesterday early in the day, then managed to close higher with a long tail, a bullish pattern.

Facebook (FB) - group rank 6, pretax margin 47.7%, huge earnings and sales. This is its first continuation pocket pivot since its buyable gap-up in late January after its earnings announcement.

Lifelock (LOCK) - provides identity theft protection services to individuals and enterprises. A strong earnings report initially had the stock selling off, after which it managed to find support and close higher with a long lower tail, a bullish pattern. Institutional sponsorship has grown in every quarter since the company went public 5 quarters ago.

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