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MLR - PMP 10/6/14

Major averages rose Friday on declining volume for a second day in a row. Both the S&P 500 and NASDAQ Composite are close to their respective 50dmas. Given that QE ends this month, and the European Central Bank's Mario Draghi did not mention anything about increasing its level of QE when he spoke last week, the current correction may not yet be over even though on a short-term basis, the market is putting in a bounce. European markets remain in a downtrend as they've corrected on average more than 13% based on the IEV ETF which tracks a basket of European markets.

Camera-based advanced driver assistance system Mobileye (MBLY) had a buyable gap up on Friday, opening at 57.15, and currently at 58.8. While the prior pattern is a bit sloppy, it is an IPO so higher than normal volatility can be expected. That said, if you decide to invest in this name, keep these factors in mind because volatility will likely remain high. Earnings and sales are robust, pretax margin 30.2%, ROE 25.1%, group rank 73.

Biotech Medivation (MDVN) had a pocket pivot three days ago and is still actionable. On the day of MDVN's pocket pivot, you will remember the markets were aggressively heading lower, thus the hesitance on sending a report on MDVN on that day. But since the market is bouncing at this juncture, MDVN looks actionable. Earnings and sales have surged higher, group rank 2.

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. ©2019 MoKa Investors, LLC DBA Virtue of Selfish Investing. All rights reserved.
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