MLR - PMP 6/23/14

Published : June 23 2014 at 8:25 ET

Major averages inched forward on higher triple witching volume. Markets are reacting in measured fashion to the situation in Iraq as oil can come from elsewhere, and the U.S. could lift its 1973 ban on oil exports. So even if Iraq tries to hike oil prices, there are workarounds. Precious metals may have found the bottom of their long basing patterns as both gold and silver were up sharply on volume. Keep in mind that both are still trading in the bottom 1/3rd of their basing patterns so expect some back-and-fill action in the weeks ahead.

As members can see, a number of high quality leading stocks continue to show various buy points. As always, your position sizing, sell stops, and overall portfolio exposure should be in line with your risk tolerance levels. 

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.