Major averages rose yesterday on lower volume ahead of today's Veterans Day. The bond market is closed. The major averages have come straight off lows and show almost no signs of distribution, but the question remains whether they will continue higher or roll over in this environment that lacks a QE safety net. Price/volume action is key and so far, the trend is our friend. Further, the global QE environment is favorable thus central banks that tend to act in rough coherence should have an impact on the Fed's decision to keep the status quo of unusually low interest rates for the foreseeable future since global economies remain weak which in turn has a dragging impact on the US economy.
Chinese online social platform YY, In. (YY) had a pocket pivot off its 50dma. Earnings and sales are skyrocketing, pretax margin 37.5%, ROE 37.1%, group rank 28.
This information is provided by MoKa Investors, LLC DBA Virtue of Selfish Investing (VoSI) is issued solely for informational purposes and does not constitute an offer to sell or a solicitation of an offer to buy securities. Information contained herein is based on sources which we believe to be reliable but is not guaranteed by us as being accurate and does not purport to be a complete statement or summary of available data. VoSI reports are intended to alert VoSI members to technical developments in certain securities that may or may not be actionable, only, and are not intended as recommendations. Past performance is not a guarantee, nor is it necessarily indicative, of future results. Opinions expressed herein are statements of our judgment as of the publication date and are subject to change without notice. Entities including but not limited to VoSI, its members, officers, directors, employees, customers, agents, and affiliates may have a position, long or short, in the securities referred to herein, and/or other related securities, and may increase or decrease such position or take a contra position. Additional information is available upon written request. This publication is for clients of Virtue of Selfish Investing. Reproduction without written permission is strictly prohibited and will be prosecuted to the full extent of the law. ©2024 MoKa Investors, LLC DBA Virtue of Selfish Investing. All rights reserved.
