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MLR - PMP 2/4/15

Major averages rose on higher volume as they all cleared their 50-day moving averages. Choppy riptide action has been the way of things since mid-December so with leading stocks continuing to lag the pace of the current bounce, there is cause for concern. Further, the major averages remain stuck in a trading range until they start making higher highs. At present, volatility continues to rule the day as does defective price/volume action. Meanwhile, oil continued its bounce helped by an oil refinery strike and signs of inventory buildups.

Keep stops tight as always and remain nimble if you are trading stocks. MDM remains in cash as the sidelines are a good place to be when the market is as noisy as it is. As Jesse Livermore once said, more money is lost by investors trying to trade when the market is not right to trade, and as the market exhausts investors' patience, that is often when the market gets traction and starts to trend.

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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