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 9/10/13

The major averages were up on lower volume, but the NASDAQ Composite closed at a new high, creating a de facto resumption of the market's rally. The S&P 500 provided some confirmation as it was able to regain its 50-day moving average. Over the past two weeks, leading stocks have been acting well, and the number of actionable stocks since Wednesday of last week on which we have reported to members has grown. This was a clear pre-indication of a potential market turn as the action underneath the market's "hood," so to speak, was percolating in constructive fashion. The Market Direction Model switched to a buy signal yesterday near the close, and this morning futures are up as the Syrian crisis appears to become somewhat defused. Following Russia's urging of Syria to place their chemical weapons under international control, U.S. Secretary of State John Kerry confirmed that Syria could avert an attack by promptly handing control of their chemical weapons to the international community.

Among leading stocks showing strong action yesterday, Acadia Pharmaceuticals (ACAD) broke out of its sideways base two days after we sent a report on its pocket pivot on Friday.

Trulia (TRLA) followed through on its pocket pivot of four trading days ago with another one yesterday. TRLA gave investors two days of buying opportunity after that September 4th pocket pivot as its pullback over last Friday and Thursday was on constructively lower volume.

VipShops (VIPS) had another pocket pivot. We have mentioned VIPS in prior reports (see archives).

Mercadolibre (MELI) recovered from a sell-off on last Friday and turned back to the upside yesterday, trading enough volume for a pocket pivot. Keep in mind this stock trades sloppy and often violates its 50-day moving average, thus it might be worth a quick profit, especially given how a number of higher quality stocks have acted this year, moving ahead 3 steps, then moving back 2 1/2.

Tesla Motors (TSLA) tested its 20-day exponential moving average yesterday and was able to trade up and off of the line as volume came in well above-average. However, the stock did gap down in the morning and closed in the lower part of its daily trading range, so a retest is always possible.

Discount retailer Five Below (FIVE) will gap up at today's open after a strong earnings report. Earnings are accelerating but have been erratic, so caution is warranted.

We note a couple of stocks trying to turn up the right sides of their bases and which flashed "bottom-fishing" pocket pivots yesterday: Eagle Materials (EXP) and Chicago Bridge & Iron (CBI) both moved above their 50-day moving averages yesterday on pocket pivot volume signatures.

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