Scalper1 News
Major averages closed roughly flat yesterday on near breakeven volume to Tuesday’s volume. The market has had a spate of up days so some consolidation is healthy here to allow their respective 10-day moving averages to catch up. Meanwhile, the number of actionable stocks continues to grow as noted by the number of pocket pivots cited on Wednesday. Various pocket pivots: Jazz Pharmaceuticals (JAZZ) – Drug manufacturer – pretax margin 55.6%, ROE 39.6%, institutional sponsorship grew last 5 quarters, group rank 15. Criteo S.A. (CRTO) – Enables e-commerce companies to increase post-click sales – earnings and sales are soaring, group rank 33. Pacira Pharmaceuticals (PCRX) – Develops drugs using proprietary drug delivery technology – earnings and sales are soaring, group rank 1. Medivation (MDVN) – Had another pocket pivot on a strong earnings report. We mentioned MDVN on 2/21. Â A few retailers such as KSS, TJX, and ROST also had pocket pivots but fundamentals are not leadership quality. Scalper1 News
Scalper1 News