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MLR - PMP 6/24/14

Major averages finished once again near break-even levels. These tight closes can be viewed as constructive within the context of a continuing and plentiful stream of logical buy points being issued by leading stocks over the last few weeks. As well, some leading stocks have issued more than one buy signal as they have moved higher over the past several weeks.

For example, Tesla Motors (TSLA) resumed its ascent on a pocket pivot volume signature but is a bit extended from its 10-day moving average. That said, it is an industry leader with huge potential and so could continue its powerful uptrend. Yesterday's action comes on the heels of a pocket pivot buy point two Mondays ago as the stock came up and off of its 50-day moving average.

Baidu (BIDU) and and Gogo GOGO had pocket pivots yesterday, but certain caveats may apply.

BIDU's days of fast ascent not seen since 2011 are perhaps gone as the company's market cap is at $62 billion, and present and future earnings out to 4 quarters are lackluster at best. On the other hand, if it can marshall its huge audience with innovative applications, it can perhaps resume its steep ascent. BIDU is estimated to make $4.89 in 2014 while estimates call for $11.46 in annual earnings by 2017, so some argument can be made for longer-term growth potential. For the last two quarters, sales are over 50% quarter of quarter, ROE 34.2%, pretax margin 39.7%.

GOGO is emerging from a flat 3-week base, but is heading into up into its 200-day moving average after gapping down in late April. Earnings have also been trending lower. The risk here outside of a quick swing trade is high.

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.
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