Major averages finished breakeven or slightly higher on mixed volume. While the indices remain reluctant to upside break outs, the number of actionable names which have performed well continues to grow. Thus, while market timing remains a difficult road to take, individual stocks have proven worthwhile.
The markets shrugged off Thursday's economic reports which mostly came in weak. This was likely a sign of renewed faith that rate hikes would be further postponed allowing a continuation of QE to prop the markets.
Television station operator Gray Television (GTN) had a pocket pivot breakout. Keep in mind breakouts typically have not been working thus buying a stock on constructive weakness after a pocket pivot is often prudent. ROE 24.6%, earnings and sales are accelerating, group rank 38.
Customer relationship management software provider Salesforce.com (CRM) had a buyable gap up on a strong earnings report. Earnings have been accelerating overall, group rank 32.
Pharmaceutical maker Supernus Pharmaceuticals (SUPN) had a pocket pivot. Earnings have turned positive last couple of quarters and sales are skyrocketing, group rank 2. Keep in mind this is a small cap biotech thus risks are elevated.
NXP Semiconductor (NXPI) had a pocket pivot off its 50dma. Pretax margin 22.7%, ROE 128.7%, group rank 10. NXPI gapped up in early March adding strength to its pattern.
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