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MLR - PMP 3/12/15

Major averages tiptoed lower on lower volume after Tuesday's big selloff. The market was unable to manage a bounce though the small and mid cap indices were up on the day. With the number of smaller stocks outnumbering the larger ones, breadth was actually positive on both the NASDAQ Composite and NYSE. Futures are up as of this writing.

Despite the recent weak market action over the last few days, two names showed constructive patterns leading to the following pocket pivots:

Chinese online discount retailer Vipshops (VIPS) had a pocket pivot. It gapped up after its most recent earnings report. Earnings and sales are skyrocketing, ROE 61.3%, group rank 70.

Pharmaceutical ingredient maker Cambrex Corp. (CBM) had a pocket pivot. It gapped up after its most recent earnings report. Earnings are accelerating, group rank 18.

Since the general market has displayed weakness over the last few days, any buying should be done with caution and in measured fashion. Members should keep in mind that pocket pivots are technical facts, and only become actionable under the right circumstances and market context. However, as we've pointed out previously, stocks issuing pocket pivots during a market pullback or correction are showing contrarian strength and therefore should be watched carefully in the event the market stabilizes and resumes any rally phase.

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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