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.

MLR - PMP 10/3/13

The major market averages outside of the Dow Jones Industrials managed to claw back to near breakeven after nervousness that the government shutdown would last longer than expected sent the markets gapping down at the open. Volumes eased from the prior day. Despite no resolution between the House and Senate, premarket futures in the major indices are near flat.

Tesla Motors (TSLA) was downgraded to neutral yesterday by Baird & Company, dropping below its 10-day moving average on the news. Volume was heavy at 107% over its 50-day average volume, but got heavy support during the last 40 minutes of trade. TSLA is trading down again in the premarket after a report that one of its cars caught fire, but this fire resulted from a collision after 83,000 miles of driving. Deutsche Bank says this has not changed its view thus maintains its $200 price target on the company. Investors, however, should pay attention to the stock's price/volume action. We would use a maximum sell stop at 175 as a violation of the 10-day moving average, although investors can decide how to handle the position based on their own entry and position size. Some have traded around a core position with looser stops and may wish to continue to do so.

Leading stocks such as Priceline (PCLN), Acadia Pharmaceuticals (ACAD), Vipshop (VIPS), Yy (YY), and Trulia (TRLA) were all under strong accumulation today, with some hitting new highs. Overall most leading stocks appear to be well intact, despite the market's short-term volatility. Investors should simply keep a close eye on their stocks and maintain their selling guides.

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