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MLR - PMP 4/22/15

Major averages finished mixed yesterday on higher but below average volume. The NASDAQ Composite closed above 5000 as it makes another attempt at definitively breaking through this resistance level for the fourth time. The market's internals in the form of leading stocks bodes well for the fourth time being the charm, absent, of course, any unexpected news announcements in this event driven market environment.

A good number of actionable leading names on the basis of our proprietary fundamental and technical requirements appeared in the form of pocket pivots and a buyable gap up:

Criteo (CRTO) had a pocket pivot though it had a weak close in the lower half of its trading range. We reported on CRTO's prior pocket pivot on April 13.

Airline Jet Blue JBLU) - Earnings are accelerating, group rank 34. The price of oil is trying to find a floor but nothing yet definitive.

Fiber optic network company Infineon (INFN) had a pocket pivot on a strong earnings report. Earnings are skyrocketing last 5 quarters after being in the red for the most part, institutional sponsorship has grown the last 5 quarters, group rank 24. INFN announced favorable earnings yesterday after the close.

Financial services company Credit Acceptance Corp. (CACC) - earnings are accelerating, pretax margin 57.8%, ROE 37.4%, group rank 27.

Pharmaceutical company Mallinckrodt (MNK) had a pocket pivot off its 50dma. Earnings and sales are skyrocketing, institutional sponsorship has increased every quarter since the company went public 7 quarters ago, group rank 2.

Network security company CyberArk Software (CYBR) had a pocket pivot on gap-up move. Caution is warranted here since this is a fairly sharp move off its lows. Still, earnings and sales are skyrocketing, group rank 7.

Network security company Palo Alto Networks (PANW) had a pocket pivot breakout. Earnings and sales are accelerating, group rank 7.

While the two computer security companies above had pocket pivots, Fortinet (FTNT) had a buyable gap up after a positive earnings report Monday after the close, closing midbar. While earnings have been sluggish, sales have accelerated, and institutional sponsorship has grown over the last 5 quarters.

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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