Scalper1 News
Major averages finished near breakeven on lower volume. Small caps, however, fared worse and continue to lag in the current uptrend. Risk is off for the riskier small caps as easy money finds its way into larger cap stocks. This morning’s jobs number came in at 314,000, sparking an initial sell-off in the futures. Two names had lower quality pocket pivots yesterday, Tubemogul (TUBE) and Veeva Systems (VEEV), thus we did not send out reports on these stocks. TUBE offers a digital platform for branding and advertising, and is a small cap with mostly negative earnings. VEEV has lagged the general market in the current bounce, so even though it gapped up during its prior earnings report, the lackluster technical action makes it a riskier name. As always, it is generally a good rule of thumb to focus on the best of the best on a risk/reward basis. Scalper1 News
Scalper1 News