The major market averages were higher on light holiday trading that was obviously higher than Tuesday's short Christmas Eve trading session. Quality stocks have been performing better including FB, NFLX, AMZN, GOOG, PCLN, and ILMN all which are driving to new highs along with the NYSE advance-decline line. New highs seen in NASDAQ and NYSE stocks have also been on the rise. With little to shake the markets in this quiet news period, and with quantitative easing on full blast, markets have continued their uptrend in unfettered fashion.
Small cloud staffing services firm Intercloud (ICLD) had a pocket pivot yesterday. Keep in mind this stock is a micro-cap so it is ultra-thin, trading about $13 million in daily dollar volume. What it has going for it is a possible quick play to the upside while possibly keeping a small core position for a longer-term move given its group rank of #2, first quarter of positive earnings, and outstanding return-on-equity of 41.9%. ICLD provides telecommunications staffing and specialty contracting services. Gil Morales first discussed ICLD in the VoSI Member's Lounge chatroom when it was trading under 10 about 2 weeks ago.
Workday (WDAY) had a subtle pocket pivot yesterday as it continues to move tight sideways near the top of a handle formation within an overall cup-with-handle base.
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. ©2018 MoKa Investors, LLC DBA Virtue of Selfish Investing. All rights reserved.