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Market Lab Report - Premarket Pulse 5/1/15

Major averages fell on higher volume yesterday, closing under their respective 50dmas. Leading stocks continue to sell off. Markets have been trading sideways since December 2014. If they continue their pattern, the market may have one or two more down days then bounce. Of course, sideways markets are the most difficult to time so a move to cash may come quick. Fortunately, the number of actionable names have proven out provided, as we have been advising for quite some time now, that one takes profits in context with the individual stock and overall market conditions and is quick to cut losses.

Futures are currently up slightly at the time of this writing.

The number of Americans who applied for unemployment benefits last week sank to a 15-year low which reflects the low level of layoffs occurring in the US economy. Of course, this report sparks fear that the Fed may move a step closer to hiking rates.

Leading stocks continue to break down in force with LinkedIn (LNKD) getting smashed after-hours yesterday on poor earnings guidance. While one can hope for a bounce in the indexes, the action of individual stocks, including former leading areas like social-networking, bio-tech, and semiconductors, is severe and likely a clue of further weakness to come. Investors should exercise extreme caution.

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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