Off your game?
Read our free, updated as of Mar 3, 2022, Dr K report on how to optimize your mind and body so you can boost your focus when trading the markets.
Meet Dr K !
Chris Kacher
  • Nuclear physicist
  • Stock & crypto market wizard
  • Blockchain builder
  • Bestselling author
  • Top 40 charted musician
  • Biohacker
  • Former computer hacker
Your email will always remain private.

MLR - PMP 5/22/14

The major market averages rose on lower volume yesterday. Once again the NASDAQ Composite is close to retesting its 50-day moving average while the S&P 500 and various European bourses are less than 1% off their highs. The relatively flat, non-trending market has been tough on trend followers, but this is a market of stocks rather than a stock market, so our primary focus has been on actionable individual names on either the short or long side. Adjusting to the quantitative easing induced manipulation of the major averages has also been a focus though when the market turns trendless, there is little to be gained in terms of market timing. But such periods always come to an end so we remain ever-vigilant for the next trend.

Website publishing and management software company Web.com Group (WWWW) had a pocket pivot as it closed firmly above its 50-day moving average having rounded out the lows of a potential new cup base. Institutional sponsorship has grown over the last 9 quarters, ROE 67.6%, group rank 46.

Railroad transportation equipment manufacturer Greenbrier Companies (GBX) had a pocket pivot breakout yesterday from a short three-week flag formation.. Transports have been strong all year. Group rank 5.

As we wrote in our Tuesday Pre-Market Pulse report, "roundabout" type formations where stocks are attempting to round out the lows of a potential new base are likely to be the most common buy set-up once the roundabout is confirmed with a pocket pivot coming up through the 50-day and/or 10-day moving averages. This is the type of set-up that members should be alert to. We would note that Facebook (FB) is currently in position for a roundabout-type of pocket pivot, and we have a position in the stock currently.

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.
Copyright ©2024 MoKa Investors, LLC DBA Virtue of Selfish Investing.
All Rights Reserved.
privacy policy