Off your game?
Read our free, updated as of Mar 3, 2022, Dr K report on how to optimize your mind and body so you can boost your focus when trading the markets.
Meet Dr K !
Chris Kacher
  • Nuclear physicist
  • Stock & crypto market wizard
  • Blockchain builder
  • Bestselling author
  • Top 40 charted musician
  • Biohacker
  • Former computer hacker
Your email will always remain private.

Market Lab Report - Premarket Pulse 5/21/15

Major averages closed once again near breakeven on mixed volume. The indices rallied at 2 p.m. EDT when The Fed released the minutes from its latest policy meeting, which showed that few Fed governors favored a rate hike in June. These gains were quickly reversed about an hour later, thus the majors made little progress overall.

Overall the action shows the major indices holding tight near or at new highs after a prior strong move up and off of their 50-day moving averages 7 days ago. Meanwhile the small-cap Russell 2000 has regained its 50-day moving average and showed supporting action off the line yesterday as it closed well in the upper half its daily trading range. Investors should continue to focus on the action of individual stocks, a number of which continue to show positive action.

Auto financial services dealer Credit Acceptance Corp. (CACC) had a pocket pivot. It is coming out of a 3-weeks tight formation. Earnings and sales are accelerating, pretax margin 57.4%, ROE 37.4%, group rank 8.

Chinese-based online retail juggernaut Alibaba (BABA) had a pocket pivot after its recent gap up on a strong earnings report. Sales are accelerating, pretax margin 65.6%, ROE 37.8%, group rank 13. Keep in mind this is a bottom feeder type of pocket pivot so one should be quick to take profits when they have them in context with the overall chart.

Footwear and apparel retailer Footlocker (FL) had a pocket pivot. This is a large cap retailer so this is another example of a stock where profits should be taken when you have them. .

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.
Copyright ©2024 MoKa Investors, LLC DBA Virtue of Selfish Investing.
All Rights Reserved.
privacy policy