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MDM - Update 11/24/10

Leading stocks continue to act well overall, and the NASDAQ Composite has moved above the 2536 level but on light preholiday trading volume. Friday is a half day but historically a mildly positive day.

The model remains on sell as this is light holiday volume rallying. Next week will show whether the model will continue to stay on a sell signal, or move to a neutral signal. Convincing volume next week by leading stocks and/or indices will most likely shift the model to neutral, and a follow through day will shift the model to a buy signal.

Note, the number of distribution days stands at 4. Should the model switch to a neutral or buy signal, a breakdown below the low of a fifth distribution day along with action from leading stocks confirming the breakdown would trigger a renewed sell signal.

The markets have recently been quite challenging. These are markets that sell off hard along with leading stocks, then bounce right back. As always, if you bought any of the stocks we recently recommended, obey your sell stops. And obey your maximum loss percentage levels on any inverse ETFs you bought. So far, the NASDAQ Composite has moved about +2.8% above where the sell signal was issued.

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. ©2021 MoKa Investors, LLC DBA Virtue of Selfish Investing. All rights reserved.
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