Scalper1 News
Major averages were mixed yesterday on lower volume. The averages continue to close near the top of their intraday trading ranges. The gentle action continues as the market digests recent gains. Of course, one must not get complacent as we could have a repeat of late December. On the other hand, the market is all about being in the right stocks at the right time, and huge opportunities have been seen in names that we have issued reports on or discussed in our webinars, such as CyberArk Software (CYBR), up well over 50% since we first issued a Pocket Pivot Report on the stock, and Intrexon (XON), which was discussed in our webinars when it was setting up along the 30 price level. So while one can fret about what the indexes might or might not do, the fact remains that it is possible to make strong progress in this market IF one is in the right stocks, end of story. Futures are currently about flat and European stocks also remain relatively quiet. Social networking juggernaut Facebook (FB) had a pocket pivot. Earnings and sales remain strong, pretax margin 56.5%, institutional sponsorship has grown every quarter since the company went public 12 quarters ago. Drug manufacturer Regeneron Pharmaceuticals (REGN) had a pocket pivot after a constructive consolidation. Earnings and sales are accelerating, pretax margin 41.7%, ROE 52.3%, group rank 1. Tableau Software (DATA) had a continuation pocket pivot yesterday off of its 10-day moving average but continues to run into resistance around the $100 Century Mark as it stalled to close mid-range. Scalper1 News
Scalper1 News