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Could you please elaborate on why you issued a pocket pivot on the following stocks:

Q: Could you please elaborate on why you issued a pocket pivot on:
FOSL Continuation Pocket Pivot on 082710
Riverbed Technologies Pocket Pivot on 082410
Priceline.com (PCLN) Pocket Pivot off 10-dma on 081710

I figure they meet the volume criteria and are up days but aren't they too far off their 10 sma?

And, the other way around: why aren't these pocket pivots:
ARUN on 082510
FOSL on 08/24-25-26/10
PCLN 080310

 

A: At times, we will include a Q&A in the FAQ section of the website. Over time, we will build a vast collection of Q&As for the purpose of building a robust investor education section of the site.

All stocks you mentioned had winning fundamental characteristics.

As to technicals:
FOSL 8/27- prior constructive price/vol action including a gap up on 8/10.
RVBD 8/24- One of the leading stocks in cloud computing. Big volm up day on 7/23 as a result of an excellent earnings report. This can often change the tone of a stock. The pocket pivot undercut prior days lows then finished in the top half of the trading day on big volume.
PCLN 8/17- Leading stock. Pocket pivot after big gap up.

All had lows that were close to the pocket pivot. In the context of the overall chart, none were overly extended from their 10dma's. What you dont want to see are days such as 7/26 to 8/2 in RVBD where the lows are well above the stock's 10dma.

ARUN 8/25- we emailed out a report on ARUN on this day because the pocket pivot was valid.
FOSL 8/24, 25, 26- also pocket pivots, but there was mild wedging in the pattern and since the market direction model was on a sell signal, we opted to exercise caution and refrain from mentioning FOSL until 8/27.
PCLN 8/3- this was a classic pocket pivot that gave a clue to buy the stock BEFORE earnings came out. There are often information leaks where Virtue of Selfish Investing (VSI) can capitalize on such clues the day before earnings are reported. However, VSI launched on 8/10.



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Published: 8 Sep 2010 23:20 ET
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