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Market Lab Report - Premarket Pulse 9/25/15

Major averages fell yesterday on higher volume though closed in the top quarter of their respective trading ranges. Federal Reserve chairperson Yellen gave a speech after yesterday's close. “Prospects for the U.S. economy generally appear solid" and signs of weak growth overseas won’t prove large enough to have a significant impact on policy, noted Yellen.

Futures are consequently higher by more than 1% at the time of this writing as her words soothed worries that the US economy could get pulled down with the problematic global economy. That said, when major world economies tumble, it always has affected other major economies. The US is no exception. So while China's troubles could spill over into the US, major market tops can take months to form. Thus in answer to the question of whether one should short at the close given problems in China because they believe markets are heading lower, the market remains in a highly volatile gap-up, gap-down state with various forms of manipulation still present. Thus one takes ample risk of putting on a new position at the close in the hopes of a gap down the next day.

The odds are better in buying or shorting the right stocks at the right time as a number of such stocks have been nicely profitable this year, rather than trying to get "cute" with the market by trying to predict gap downs at the next day's open, as this is often news driven. This morning's sharp gap-up coming immediately on the heels of yesterday's sharp gap-down provides a case in point.

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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