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MLR - PMP 12-17-14

Major averages fell yesterday on higher volume wiping out earlier gains as both the NASDAQ and the S&P 500 have now dropped below their 50-day moving averages. Headwinds from Russia, China, and oil are making what is usually a relatively peaceful month quite turbulent. The federal reserve's Yellen will be making a statement today and what it could mean for interest rates. Odds are she will do her best to sooth ailing markets which could bounce from currently oversold conditions. Expectations are that the Fed will confirm interest rate increases for next year, but with so many global cross-currents with the potential to "upset the cart" in the near-term, the Fed could soft pedal their language regarding future interest rate increases. We expect that today's announcement will have a significant effect on where the market goes from here.

Chinese online retail mobile "megacorp." Alibaba (BABA) had a pocket pivot yesterday off the 50-day moving average. Sales are accelerating, pretax margin 54.3%, ROE 112.1%, group rank 48.

Members should remember that we issue pocket pivot and other reports on the basis of an objective, identifiable technical condition (in this case a pocket pivot) that may or may not be actionable depending on the general market context. Leading stocks flashing pocket pivots during a market correction may not necessarily be actionable but do provide investors with a clue as to where the stronger stocks might lie, such that if the general market finds its feet and turns back to the upside a stock that had issued a pocket pivot a few days before may then become actionable. We do not provide hard buy or sell recommendations on individual stocks, only reports that identify an objective technical condition that may or may not be actionable depending on market context.

Short-sale target Tesla Motors (TSLA) dipped below its prior199.25 "minor" low in its chart, which can be viewed as a short-term cover point if the general market is able to recover here, but otherwise we maintain our longer-tem downside price target at 177-178. Short-sale target Workday (WDAY) has continued to move lower and is approaching our 77 near-term downside price target.

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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