Holy Cloud-Computing, Batman, but 45 minutes into the trading day and the market is ripping. Pocket pivots are looking like they are sprouting up everywhere, particularly in our favored cloud-computing plays. CTXS looks like its pulling one off as I type with volume up over 100% this early in the day. We anticipated this in our Follow The Stock report on CTXS of a couple of days ago, and here it is. Also, CRM, VMW, and FFIV also appear to be putting in pocket pivot buy points. We'll see how things hold up into the close, but so far we can't argue with this very positive price/volume action in our favorite group. Both Dr. K and I have to run off to a Barron's interview this morning, so we have no time to put up charts. I (Gil) am heavy long VMW, CRM, ARUN, and CTXS coming into this morning's open. We will try to update during the day with our Verizon wireless high-speed internet card and a laptop as we do interviews today with Barron's, Reuters, and Bloomberg Radio.
As I screen the market action this morning, I also notice stocks like VRX and PCLN, which is coming off a high-tight flag, putting in action that could be pocket pivots by the end of the day. It's okay to anticipate this, in our view, using the lows of the day as your rough guides for stops if the pocket pivots don't pan out by the close. Good luck!
This information is provided by MoKa Investors, LLC DBA Virtue of Selfish Investing (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. Reproduction without written permission is strictly prohibited and will be prosecuted to the full extent of the law. ©2018 MoKa Investors, LLC DBA Virtue of Selfish Investing. All rights reserved.