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MLR - PMP 6/25/14

Market averages initially rose yesterday but then finished lower on higher volume after tensions in Iraq escalated. Earlier, Philadelphia Federal Reserve President Charles Plosser said rates may have to rise by the end of the year, but this did not seem to concern the markets as they appear to have grown used to the Fed's overall dovish stance on quantitative easing.

The market's reaction to news out of Iraq, however, shifted. Whereas the market had previously shrugged off the situation in Iraq, yesterday's reaction was decidedly different. In addition, oil stocks, which had previously reacted positively to tensions in Iraq, finally took some selling heat yesterday which seemed somewhat at odds with their previous behavior. Other leading stocks also came under selling pressure. One day's action, however, is just that, one day's action, so it remains to be seen how things will develop from here. Investors should simply know where their trailing stops are and have an idea of how and under what conditions they will exit and take profits where they have them BEFORE such a plan becomes more urgently necessary.

Chinese provider of internet security software Qihoo 360 Technology (QIHU) had a pocket pivot yesterday. Earnings and sales are soaring, pretax margin 37.4%, ROE 37.3%, group rank 48.

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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