Tag Archives: market lab report

Market Lab Report – Premarket Pulse 6/23/15

Major averages rose yesterday but on lower, below average volume. Meanwhile, major markets around the world rose on hopes Greece would reach a solution on its debt issue. The NASDAQ Composite and Russell 2000 look as if they want to continue their new uptrend while the S&P 500 and DJIA still look stuck in their sideways malaise. Since major markets correlate, the question is whether the NASDAQ and Russell 2000 will win the tug-o-war and continue higher which would presumably help both the S&P 500 and DJIA hit new all-time highs. The healthy action of leading stocks seem to tilt the odds in favor of a new uptrend, but keep in mind that a number of profitable stocks over the last many weeks have come about during this sideways chop-and-slop market. So it seems the low hanging fruits continue to take the form of actionable stocks until proven otherwise. In fact, many leading stocks had already had strong moves prior to the NASDAQ’s breakout to all-time highs last Thursday, demonstrating that investors would do well to focus more on the action of individual stocks rather than the uneven action of the indexes.

Market Lab Report – AMBA 6/22/15

We sent this out to members June 19. We certainly hope profits were taken at today’s open when AMBA not only opened lower but gapped down. We have repeatedly advised that all gaps lower should be immediately sold at the open. Â Pocket Pivot Review – AMBA update 6/20/15 Published : June 19 2015 at 18:47 ET AMBA has had a high volume reversal after an intermediate term climax top. Those who bought AMBA when we put out a report on it, first on May 14, then on subsequent dates, are sitting on handsome profits. It might be time to take some or all profits off the table as high volume reversals can be particular bearish.

Market Lab Report – Premarket Pulse 6/22/15

Major averages fell Friday on higher volume. Volumes were exaggerated due to options expiration triple witching. The NASDAQ held its Thursday range breakout while the S&P 500 held above its 50-day moving average. The Russell 2000 held up the stongest on Friday as it also remains above a Thursday range breakout point. Futures are sharply higher this morning, fueled by the hope that a deal for debt-burdened Greece may soon be reached. European bourses are up 1% to almost 3% at the time of this writing. While sideways markets have been prevalent over the last number of months, a number of leading stocks continue to provide profitable buy points to our members such as: +49.1% gain in SKX, members notified 4/22 at 74.8, current price: 111.58 +57.8% gain in AMBA, members notified 5/14 at 75.63, current price: 119.35 +25.1% gain in SUPN, members notified 5/21 at 13.26, current price: 16.59 +41.2% gain in KYTH, members notified 6/2 at 53.1, current price: 75 As we have said, the key over the last couple of years has been to take profits when you have them in context with the overall chart and general market. Some of the best performers have traded higher in clean fashion thus sell stops were less likely hit even for those members who sell into strength. To those members with their trading account victories despite the challenging QE-driven market: Well done. AMBA note – we sent out an email to members on Friday about how to handle this stock. SUPN note – we have discussed in the recent webinar how to handle this one if one still had shares in it on or after 6/16. KYTH note – this one was bought out so should be sold. As members are aware, two more stocks became actionable on Friday.