Scalper1 News
âMajor averages fell then managed to claw back most of the day’s losses to finish down fractionally on lower volume. This spurred on stocks to issue actionable buy signals. Market internals continue to improve as major averages continue their sideways moves. Up-down amplitude continues to diminish which potentially bodes well for a more definitive upside breakout, though any uptrend may continue to be sloppy as QE battles an ongoing global recession. Indeed, futures are down as issues rear up in Spain. Impantable prosthetic medical seeing device maker Second Sight Medical (EYES) had a pocket pivot. It had a high volume up day on its recent earnings report. This is a small cap, speculative name, but poses big upside potential. Institutional sponsorship has grown since it went public 2 quarters ago, group rank 36. We own a position in this stock. Wearable camera maker GoPro (GPRO) had a buyable gap up. It had a prior gap up on a strong earnings report. Even though GPRO is an off-the-bottom type trade, this is its second gap up, earnings and sales are strong, institutional sponsorship has grown every quarter since the company went public 4 quarters ago, ROE 59.4%. Pharmaceutical maker AMAG Pharmaceuticals (AMAG) had a pocket pivot off its 10dma. Earnings and sales are skyrocketing, institutional sponsorship up 9 quarters in a row, group rank 3. Footwear retailer Skechers (SKX) had another pocket pivot after the prior actionable gap up on which we reported. Thus even if you took profits recently, SKX gives you another opportunity to buy today as most winning stocks do on their way to higher highs. Earnings and sales are accelerating, group rank 20. Scalper1 News
Scalper1 News