MLR - PMP 8/26/14

Published : August 26 2014 at 8:07 ET

Major averages closed at new highs on mixed volume with the S&P 500 closing above 2000 for the first time. Late summer volumes tend to be on the lower side then typically pick up again around the second week of September, after the Labor Day holiday. Abroad, Ukraine claims capture of Russian troops as peace talk hopes fade, but European markets are up as are pre-market futures. International issues have for a number of years now been sidelined in this QE environment. But even prior to QE, such issues fizzled out relatively quickly.

Intermune (ITMN) gapped about 35% on news it will be acquired by Swiss drug company Roche. For those members who bought ITMN on our pocket pivot report dated August 11, today would be a good time to sell and take your profits.

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