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MLR - Premarket Pulse January 22, 2013

General markets finished at their highs after mild intraday weakness. The NASDAQ Composite lagged, closing roughly flat, mostly due to weakness in Apple (AAPL). Volume was higher across the board, though was exaggerated due to options expiration.

A strong earnings report from General Electric (GE) more than offset a poor outlook from Intel. Some big-name and leading companies report earnings this week, including technology companies Google (GOOG), IBM (IBM), Apple (AAPL), and Motorola Solutions (MSI), as well as biotech Celgene (CELG).

Another home building stock, this one in hardwood floors and laminates, Lumber Liquidators (LL), had a pocket pivot and is attempting a base breakout. Earnings and sales have overall been accelerating, and institutional sponsorship has grown 4 quarters in a row,

Ruckus Wireless (RKUS) had a pocket pivot on 1/15/13. RKUS optimizes network capacity for service providers and enterprise networks. RKUS has a couple of caveats: 1) it is an IPO so subject to greater volatility, 2) it is relatively thin. On the other hand, earnings and sales are on a hot streak, not surprising for a stock this size with an emerging technology that holds promise. The stock is currently trading just about at its closing price on 1/15/13 so relative to the overall chart, is not yet extended. However, due to the two caveats above, know you may have to stretch your risk tolerance levels so position size accordingly or leave this one alone.

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