MLR - PMP 7/1/14
Major averages were mixed on lower, below average volume yesterday. Leading stocks, however, continued to shine, suggestive of the continuation of this uptrend. Barring some unforeseen news, expect lighter preholliday volumes as Thursday is a half session and Friday is closed for Independence Day with an upside bias.
Chinese provider of automobile pricing and reviews Bitauto (BITA) had a pocket pivot. Earning and sales which are stellar are accelerating, institutional sponsorship growing last 4 quarters, group rank 55.
Medical systems manufacturer Illumina (ILMN) had a pocket pivot / breakout from the handle in its base yesterday. Pretax margin 25.1%, sales are accelerating, group rank 44.
Palo Alto Networks (PANW) had a buyable gap up/breakout yesterday after Morgan Stanley came out and put a $104 price target on the stock. This comes after we reported on its last pocket pivot on June 26 which came on the heels of its May 29th buyable gap-up.
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