MLR - PMP 2/27/14
The major market averages finished roughly flat once again on higher volume. While the averages have been moving sideways as they digest the market's sharp rally off the early February lows, leading stocks have overall performed well.
Baidu (BIDU) is looking to gap up at today's open after a strong earnings report though earnings have been lackluster so it fundamentally falls just short of a true leader. That said, earnings are looking to reaccelerate.
Workday (WDAY) is gapping up above the $100 price level this morning in pre-open trade after announcing earnings last night.
Vipshops (VIPS) had a pocket pivot yesterday as it closed at an all-time high. Earnings and sales have been explosive, institutional sponsorship has grown in every quarter since the company went public 7 quarters ago. Group rank 25.
Solar stock Canadia Solar (CSIQ) had a pocket pivot yesterday that would also qualify as a trendline base breakout. Earnings and sales are soaring, group rank #.
Airline Wi-Fi company ENT had a pocket pivot yesterday. This comes on the heels of the buyable gap up it had on February 18 on which reported. Group rank us #10, soaring sales.
Real estate construction company Eagle Materials (EXP) had a pocket pivot. Group rank #31, solid earnings and sales that are projected to accelerate.
Biotech Intercept Pharmaceuticals (ICPT) had a pocket pivot yesterday. The price momentum in this stock is massive due to its recent breakthroughs, and huge price swings are not uncommon. Group rank #2. We hold a position in ICPT.
Palo Alto Networks (PANW) had a continuation pocket pivot yesterday as it bounced off of its 10-day moving average on a pullback following its buyable gap-up move of two days ago.
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