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MLR - PMP 2/27/15

Major averages finished mixed yesterday on higher volume. Both the NASDAQ Composite and Russell 2000 hit new highs while the S&P 500 and DJIA fell fractionally. The number of actionable leading stocks continues to join the uptrend as leaders overall have been performing well.

Avago Technologies (AVGO) finished its BGU on a strong note, closing near intraday highs while Qorvo (QRVO) and Super Micro Computer (SMCI) both continued higher after their recent pocket pivots we noted three days ago.

Tech juggernaut Apple (AAPL) had an upside reversal pocket pivot. Earnings and sales are strongly accelerating. The % gains in the most recent quarter are substantial especially given the size of the company. Pretax margin 29.3%, ROE 33.6%, group rank 54.

Two of the three big-stock social-networking companies had pocket pivots yesterday - Twitter (TWTR) and LinkedIn (LNKD.) Both had recent gap ups on strong earnings. Earnings for both companies are strongly accelerating. That said, LNKD's close today was relatively weak and TWTR had a gap down on a weak earnings report back in October. Meanwhile, Facebook (FB), which had a pocket pivot six days ago as we reported at that time, is attempting to break out from a short cup-with-handle formation.

This morning Splunk (SPLK) is set to gap up and out of a 15-week base after beating on earnings last night after the close. This likely will develop into a buyable gap-up and will be monitoring this once the market opens.

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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