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MLR - PMP 11/26/13

The major market averages finished near breakeven on mixed volume after an early-morning gap-up, with the S&P 500 closing down for the day, while the NASDAQ Composite finished up 0.26%. The NASDAQ managed to pierce the 4000 price level for the first time since year 2000, but only briefly, finishing just under 4000 while logging a churning day on higher volume.

The troublesome aspect of this market is that a number of leading names continue to get hit including Facebook (FB), LinkedIn (LNKD), Qihoo 360 (QIHU), 3-D names, and the solars including Sunpower (SPWR), and Trina Solar (TSL). Yelp (YELP) was also hit for a -6.72% loss yesterday as it makes lower-lows well below its 50-day moving average. Even as the indexes have moved back up to their highs, individual stocks tell a different story as progress has been difficult for many leaders.

As always, keep an eye on your stops in this QE-treacherous environment which pushes major indices higher while clocking leading names on small consolidations.

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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