Good Tuesday afternoon folks. Hope your week's off to a good start. Just to shake things up a little bit, we're going to take a step back and look at the bigger fundamental picture today. Now, before your eyes glaze over in anticipation of a long, drawn-out philosophical look at stocks, know that we're going to be taking our look in high-speed fashion. After all, there's still a lot of near-term stuff to talk about after today's bounce to record or near-record highs.
Welcome back everyone. Not only are we at the beginning of a new week, but we're kicking off a new month as well as a new quarter. And, I've got a feeling Q2 isn't going to be anything like Q1.... in a bad way. More on that below, along with our usual market analysis. First though, I want to point out some of the site's sizzling commentaries posted today.
You know, at this point the market's willingness to test prior highs - coupled with its unwillingness to actually move to new highs - has become comical. It's almost like someone's got the major indices strung up like a marionette, and just when it looks like stocks are ready to break out, the puppeteer pushes stocks down just enough to deflate that enthusiasm. On the flipside, just when it starts to look like the market's going to sell off, the puppet's strings pull stocks higher again, reigniting hope.
Today's action is another perfect example of stocks dancing with recently-developed resistance without actually hurdling it.
Happy Monday fellow traders. Welcome back to the dance, though before I forget, this coming Friday is Good Friday, and the U.S. stock market is going to be closed. Any trading activity you were mulling this week is going to have to be done by Thursday.
Also, don't forget this is the last week of the calendar quarter, which means a bunch of mutual fund managers may be doing a little window dressing before wrapping up the month. That can be good, or bad, depending on a variety of factors. Either way, just be prepared to see a little more 'umph' than we've been seeing of late behind this week's moves.
Good Friday afternoon folks. We hope the week went well for you. And, if you've been reading the newsletter for at least a couple of weeks - and acting on the ideas we send your way - then this week should have been a very good one for you. How's that? Because Cadence Pharmaceuticals (CADX) popped on Thursday, leading to what's currently about a 10% gain from when we pointed it out to you back on the 6th. It was up nearly 15% this morning from the prices we were seeing when we first pointed it out, but it peeled back a bit this afternoon.
What spurred the big move? Nothing directly from the company, but rather, a ton of bullish buzz about Cadence that's been accumulating for a while; it all just hit a critical mass on Thursday. The company deserves the attention, however.