MLR - Premarket Pulse Dec 23, 2013
Major averages rose on quadruple witching volume, closing at new highs. Q3 GDP growth was revised upward from 3.6% to 4.1% due much to strength in consumer spending. The uptrend continues as the Fed plans to keep rates low for an extended period. Unemployment would have to fall below 6.5% for the Fed to be reasonably assured that the economy has turned the corner thus comfortable enough to let rates rise. This means the Fed will continue to keep rates low whether it be by bond buying or some other method.
WDAY had a pocket pivot. It has a tendency to violate its 50dma, but it did have a recent gap up which could change its character, and its sales are soaring. That said, it wont be earning anything for the next couple of years.
ACAD had a pocket pivot. Keep in mind it's had a huge run, which can work in its favor if it decides to continue this steep ascent. It can also work against as everyone sees it now. The base that has formed up to this pocket pivot is reasonable but far from perfect which adds risk to this pocket pivot being profitable. ACAD is also a biotech with no sales or earnings but a compelling story, thus it's steep ascent in price.
This information is provided by Virtue of Selfish Investing, LLC (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, LLC. Reproduction without written permission is strictly prohibited and will be prosecuted to the full extent of the law. ©2016 Virtue of Selfish Investing, LLC. All rights reserved.