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MLR - PMP 2/6/15

Major averages rose on lower volume yesterday as institutions seem unconvinced that this current rally has legs. Much of yesterday's gain came on news that Greece may work out a deal with the other countries in the EU. Of course, Greece has been a highly volatile component thus today's gain may be fleeting. Major averages, while having cleared their respective 50-day moving averages, are closing in on resistance as they retest the highs of their current volatile sideways range. Whether they can clear to higher highs remains an open question as this has previously represented stiff resistance to any further advances.

Today's jobs number came in stronger than expected, while the unemployment rate rose to 5.7%. This is likely seen as a non-event by the market, and it will be a matter of how the indexes act as they move up and encounter resistance at current levels.

Some new leadership is emerging here as others lag:

Generic drug maker Lannett Companies (LCI) had a buyable gap up on a strong earnings report. Pretax margin 40.2%, ROE 33%, earnings and sales are skyrocketing, institutional sponsorship grew last 7 quarters, group rank 8.

Visualized data analytics software maker Tableau Software (DATA) had a buyable gap up also on strong earnings. Skyrocketing earnings and sales, institutional sponsorship grew last 5 quarters, group rank 57.

Semiconductor Ambarella (AMBA) - strongly accelerating earnings and sales, pretax margin 23.1%, group rank 14. AMBA's pocket pivot occurred in anticipation of a strong earnings report from GoPro (GPRO) after the close yesterday, and while GPRO did have a strong report, its forward guidance was lacking, causing AMBA to move lower as well in the after hours.

LinkedIn (LNKD) is gapping up to all-time highs this morning as it emerges from a multi-month base after announcing strong earnings yesterday after the close. This will likely qualify as a buyable gap-up, and we will report on this later on the day as it develops.

Twitter (TWTR) is also gapping up sharply after earnings, but is not in a constructive position within its overall chart pattern.

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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