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Market Lab Report - Premarket Pulse 3/8/17

Major averages fell yesterday on mixed volume. While volume was larger for the NASDAQ Composite, it was only slightly higher than the prior day and below average. Nevertheless, this is the third distribution day for the index over the last 9 trading days as the market continues to digest gains. We have, however, seen a number of breakdowns in formerly leading stocks, and strong, trending action remains a rare occurrence as choppy movement remains the rule of the day.

Focus List Update:

MOMO had a buyable gap up after reporting strong earnings.

THO gapped lower on weak earnings. As we have always advised, such a gap lower should always be sold at the open. Ask questions later.

FTNT, CUDA, BOX, GKOS are coming off the list. We continue to monitor names such as GKOS even after we remove them as the stock, as an example, holds big earnings potential over the next 2 years, plus its overall price pattern is strong. So it could easily set up as an actionable stock once again.

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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