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MLR - PMP 12/11/13

Major averages were lower on mixed volume. Small-cap stocks, as measured by the Russell 2000, took the biggest hit, down -.90% on the day vs. the lesser -.20% decline of the NASDAQ. The number of distribution days continue to climb and breadth continues to narrow, yet the averages remain firmly in their uptrend as quantitative easing continues. We've also noticed a number of pocket pivots shown below. That said, dont let seasonal complacency make you any less mindful of your sell stops which are in place to minimize your risk. In fact, the "seasonable favorability" of December is something of a myth, given that eight other months average better gains. What does tend to be a strong period are the last five trading days of the year and the first two of the new year.

Three-D Systems (DDD) pocket pivoted yesterday. The 3-D printing space remains strong with a group rank of 8. DDD's earnings and sales are accelerating, institutional sponsorship has grown 7 quarters in a row.

Harman Industries (HAR) had a pocket pivot yesterday. Institutional sponsorship has grown 5 quarters in a row.

Incyte Pharmaceuticals (INCY) had a pocket pivot yesterday. While the company does turn a profit, this is not unusual for young bio-techs with upside potential, and the bio-tech group remains strong with a #37 ranking among all industry groups.

Vipshops (VIPS) had a big-volume bounce off of its 50-day moving average that closed positive which qualified as a pocket pivot. VIPS' earnings are accelerating tremendously, and institutional sponsorship has grown in every quarter since the company went public seven quarters ago.

Stocks currently in short flag formations and/or which are tracking along a key moving average and which should be watched for possible actionable buy points include AMZN, BIIB, PCLN, SBGI, SSYS, and WAGE.

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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