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Market Lab Report - Premarket Pulse 2/3/16

Major averages fell yesterday on higher, above average volume, closing near their lows. The odds of the follow-through day of lats Friday, January 26th, working are at 3% given the distribution day on the day right after the follow through. Yesterday's distribution day underscores these low odds.

That said, markets and oil are trading mildly higher today though the downtrend remains intact. Expect elevated levels of volatility to continue. In the face of such volatility, positions taken either long or short can only be viewed as short-term affairs, and when one has a 5-10% profit in any such position it is generally prudent to take those profits. In addition, holding positions overnight carries added risk given the tendency of the indexes to gap up or down from one day to the next. This remains an environment for nimble, short-term traders only.

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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