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MLR - PMP 11/12/13

The major market averages closed slightly up on lower volume yesterday, with slow trade resulting from the Veteran's Day holiday. Yet another leading stock, this time Facebook (FB), has violated its 50-day moving average. Tesla (TSLA) and LinkedIn (LNKD) recently violated their 50-day moving averages. Priceline (PCLN), on the other hand, hit new highs after a strong earnings report on Friday. Google (GOOG), a slower leader, has traded tightly since its gap up on strong earnings and remains in a short flag formation.

Organ-printer Organovo (ONVO) had a pocket pivot breakout yesterday. ONVO has had prior recent buy points on which we have reported.

Gogo (GOGO) had a pocket pivot on Friday followed by a buyable gap up on Monday. It closed near the top of its trading range, as it proceeded to trade higher from its opening price. BGUs can be bought at the open or later in the day, depending on one's risk tolerance levels. Sometimes, in difficult markets, it is best to not buy the stock at all, or a half position can be taken at the open, with the other half deployed later in the day or in subsequent days depending on how the stock trades.

Even as the major indexes trade near or at new highs, most leading stocks have remained in correction mode, and new buy signals among leading stocks are few and far between. Investors cannot remain complacent solely on the basis of the major market indexes as sitting too long with a leading stock that is correcting sharply, such as TSLA for example, can be quite painful. Therefore one must operate on the basis of a proper stop-loss policy and heed meaningful signals as they occur in real-time.

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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