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 9/17/14

Major averages spent most of the day on the rise in mixed volume as the work of quantitative easing was clearly evident. Fund managers were quick to either rejoin the uptrend or add to their positions as they struggle to keep up with the S&P 500. The bounce was logical given Monday's extreme oversold condition that took a number of leading stocks right down to their 50-dma where they found support. The Fed reports later today on whether they will keep rates low for a prolonged period, but given Fed Chairperson Yellen's dovish stance, odds favor easy money regardless of their rhetoric.

Some pocket pivots were seen yesterday in stocks that found support within their patterns:

Railcar manufacturer Trinity Industries (TRN) had a pocket pivot at its 10-dma but is coming off a downtrend of several days. Earnings and sales are strongly accelerating, group rank 17.

TRN's cousin, Greenbrier Companies (GBX) had a pocket pivot in a similar position off of its 10-dma.

Footwear retailer Skechers USA (SKX) had a pocket pivot at its 10-dma. Earnings are soaring, sales are accelerating, group rank 7.

Automobile seat climate control manufacturer Gentherm (THRM) found pocket pivot support at its 50-dma. Earnings are soaring, institutional sponsorship has grown over the last 6 quarters, group rank 30.

Medical research equipment maker Illumina (ILMN) also found pocket pivot support at its 50-dma. Earnings and sales are accelerating, pretax margin 25.1%, group rank 79.

Pandora Media (P) had a pocket pivot on a big-volume outside reversal to the upside as it tracks sideways along its 10, 20, and 50-dmas.

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