Major averages fell yesterday on lower volume, though the Russell 2000 managed a tiny gain. As noted, markets remain stuck in a trading range. And this morning the indexes are set to test the lows of the range once again as bond markets across the globe are selling off hard. Patience has been the market's middle name since December. Keep stops tight and take profits where you have them in context with the stock in question and the markets.
China cut interest rates again for the third time in six months to boost its economy. This time, however, it did not boost the US markets which is another piece of evidence that US markets are becoming increasingly resistant to QE-favorable news.
Drug maker Actavis (ACT had a buyable gap-up after announcing a strong earnings report). 8 quarters of institutional sponsorship growth pre-tax margins 28.4%, and group rank 4. Keep in mind, however, that buying into strength in this market has not been an efficient or effective way to buy stocks given the uneven action in the general market.
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. ©2019 MoKa Investors, LLC DBA Virtue of Selfish Investing. All rights reserved.