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MLR - PMP 3/14/14

The markets took a bit hit again yesterday on higher volume. With distribution days mounting and leaders getting hit, selling pressure has increased. The leaders began to tell the story about a week ago as they began to fall off of their prior upside pace, and the weakness is now becoming obvious in the indexes themselves.

With quantitative easing at the ready and market averages only off just a couple percent, they could find their footing sooner than later, or alternatively, could correct their standard 4-6% before finding their floor. Should the latter occur, leading stocks will take it on the chin harder than the major averages as they have before because they rose further during the market uptrend, so always adhere to your sell stops. A violation of a major moving average, a drop back into a stock's base, a break below a buyable gap up low, or a mini gap down can be reasons to sell.

It is critical that investors pay attention to their stops on individual stock positions since one cannot make blind assumptions about what the market will do, specifically that it will magically find a floor every time it corrects. Steep, brutal corrections have been seen since the Fed began its QE activities in 2009, thus complacency is not a viable investment strategy.

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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