Scalper1 News
Major averages reversed course yesterday on higher volume after initially opening up strongly to close near their lows. The S&P 500 came right up against its 200-day moving average which served as resistance, then closed in the lower half of its range. Futures are higher. We have a few new pocket pivots shown below but, as always, when market conditions are tenuous, these names should be added to your watch list, then possibly bought on constructive weakness should the general market continue higher. Meanwhile, some of the stocks in your list of shortable stocks that are setting up may become actionable, especially during days such as yesterday when major averages rose, then reversed course. Provider of Phase I to Phase IV clinical development services for the pharmaceutical and medical device industries INCR had a pocket pivot. Earnings are skyrocketing, institutional sponsorship has grown in all four quarters since the company went public, group rank 96. Semiconductor IDTI had a pocket pivot breakout. Earnings are stellar, pretax margin 26%, group rank 19. Payment processor VNTV had a pocket pivot. In late October, it gapped up on strong earnings. Earnings are accelerating, pretax margin 20%, ROE 44.6%, group rank 29. It may close midbar but the market has been somewhat weak in today’s trade. Staffing company ASGN had a pocket pivot after gapping higher on its prior earnings report. Earnings and sales are accelerating, group rank 24. Scalper1 News
Scalper1 News