MLR - Premarket Pulse January 22, 2013

Published:

22 Jan 2013 13:01 ET

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.

Like what you read?

Let us help you make sense of these markets by signing up for our free Market Lab Reports:

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.