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Market Lab Report - Premarket Pulse 11/9/15

Members should have received over the weekend the first installment of our pocket pivot and buyable gap ups weekly review. We will also cover short-sale set-ups as needed. 

Friday's Bureau of Labor Statistics monthly jobs report initially sent U.S. futures to the downside in premarket trade. After the open a tug-o-war ensued. The Federal Reserve is now closer to hiking rates as a result of the strong jobs report as a reflection of a recovering economy which sent the market higher, but concerns remained that tighter money could be a headwind for the market which sent the market lower.

Ultimately, major averages clawed their way back to finish mixed though all averages closed near their highs. Volume rose expressing institutional belief that the data was bullish overall even if rates are hiked sooner than later. The belief is that the Fed will remain dovish thus any rate hikes will be done slowly over time so as not to upset a fragile economy that is trying to recover.

CME FedWatch now puts the odds of a rate hike at 70% when the Fed next meets in December. Indeed, the yield curve steepened as a result of the jobs data, a bullish sign, as flattening yield curves often precede recession.

Semiconductor Inphi (IPHI) had another pocket pivot. Its first one was on October 15, then it had a buyable gap up on October 28. Earnings and sales continue to soar, group rank 42.

Online lender Lending Tree (TREE) had a pocket pivot. Earnings and sales are soaring, tree gapped higher on its recent earnings report, group rank 16.

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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. ©2024 MoKa Investors, LLC DBA Virtue of Selfish Investing. All rights reserved.
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