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MLR - PMP 2/24/15

Major averages finished near break-even after trading lower for much of the day. Volume was lower. This is the ninth straight gain for the NASDAQ Composite, a feat not seen in roughly 4 1/2 years. Indeed, over the last several trading days, the majors have had a tendency to close at or near their intraday highs, a sign of support. Quality stocks continue to show strength overall.

Medivation (MDVN) continued higher after its pocket pivot while CyberArk Software (CYBR) reversed course on record volume after it was downgraded. That said, analysts that downgrade a stock simply on overextended valuations often get it wrong as strength begets strength such that stocks that appear "too high" often go on to make further appreciable gains. So while competitor Palo Alto Networks' (PANW) addressable market is nearly five times larger than CYBR's market, market valuation of CYBR even at CYBR's "extended" price is less than one-sixth that of PANW, suggesting that CYBR has room to grow. Further, some analysts say the group is hard to value. But as we have said many times before, when you have profits in a short time in this market environment, take them.

In other action, Taser International (TASR) and airline Virgin America (VA) had very subtle pocket pivots within their current bases.

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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