Major averages rose yesterday on mixed volume. Indexes gapped up sharply at the open but stalled to closed roughly mid-range on the day on a bit of churning action. Overall, the indexes remain within choppy ranges. The sideways move in markets has helped leading stocks set up actionable buy points over the last week as members have noticed.
Nevertheless, the market remains in a sideways quagmire, and futures are down more than 0.5% at the time of this writing due to rising bond yields in Europe as the ECB lifted its eurozone inflation forecast to 0.3%, from 0% expected previously. Overnight the China Shanghai Index went on a wild ride, selling off -5.4% before reversing sharply to close up 0.8% on the session.
Hardware/software security company Vasco Data Security (VDSI) had a pocket pivot breakout yesterday. Earnings and sales are soaring, pretax margin 22.7%, group rank 8.
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. ©2018 MoKa Investors, LLC DBA Virtue of Selfish Investing. All rights reserved.