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PPR - Follow-Up on TTM, RAX, ROVI

RAX - The anticipated pocket pivot in RAX did not occur yesterday as volume fell short of that traded on 8/26. However, volume was well above-average, and on that basis the move looked to be setting up a breakout through the 21 level, more or less. That has now happened, and we may find that toda;y's volume shapes up as a pocket pivot volume signature. In any case, we were anticipating a pocket, and took a position on this basis, so the stock is still a hold, in our view. We own it.

TTM - We like TTM yesterday based on the pocket pivot buy point of what is now five trading days ago, including today. the stock is up a bit on strong volume in the first 40 minutes of trading so is working so far. Please review our prior PPR comments on TTM from yesterday, of which there were two. We have a position in TTM.

ROVI - the stock is dogging us so far, and after the pocket pivot buy point of two days ago, the stock is coming in on light volume. A little disappointing, but still developing. Patience and proper position sizing (in other words, RAX and TTM are more deserving of capital based on their price/volume action) may be the recipe for this one to work. We have a position in ROVI, but it was cut in half based on the lagging action today, so that capital could be deployed into stronger situations.

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. ©2020 MoKa Investors, LLC DBA Virtue of Selfish Investing. All rights reserved.
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