MLR - PMP 7/28/14
Major averages fell Friday on lower volume. Weak earnings from Amazon.com (AMZN) and jitters over the Ukraine after the U.S. revealed evidence that Russia is shelling Ukrainian military outposts from across the border sent the market lower, but selling failed to achieve any real intensity. Given the position of the indexes, which have rallied up off of their lows of over a week ago, the pullback was not out of the ordinary. A number of potential leading stocks across a broad range of industry groups performed well which bodes well for a resumption of the uptrend. Retail, internet, computer, chemical, alternative energy, apparel, and Chinese companies outperformed.
Two radio frequency device manufacturers became actionable on Friday (see reports archives), and webinar subscribers will remember there was ample discussion on how to handle both stocks about 15 minutes into the broadcast.
Chinese internets moved Friday in sympathy to Baidu's (BIDU) big post-earnings gap-up move. Among these, two posted actionable buy signals (see reports archives).
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