Happy Hump Day everybody. I know I sound like a broken record, but since my last edition on Monday, the markets have once again made more new all-time highs. And, the rally that's taken place across all of the major averages is about as broad based as anything I've seen in a very long time.
One day it's tech, another it's healthcare, another its industrials, basic materials, biotech, conglomerates, consumer products, services, the list just goes on and on. Just check out this chart of the S&P 500 here. It just keeps moving farther and farther away from the 50-day moving average. But, that's what roaring bull markets look like.
I know a lot of people out there who literally didn't think this was possible without some sort of market pause along the way - except for one group of course. I've got the folks over at Viking Crest (www.vikingcrest.com) to thank for their ability to accurately predict the major averages' recent ability to scream higher.
They do, however, think we could be approaching a potentially big selloff once the major averages have achieved certain targets they've been referencing for quite some time.
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Just go here: https://www.vikingcrest.com/register. It only takes a minute, and you'll see why their service is rapidly becoming the equity research service of choice for many industry professionals and prudent traders/investors.
In our world of small and micro-cap stocks, we've had our fair share of winners recently in Cenovus Energy Inc. (CVE) and Senseonics Holdings, Inc. (SENS), but nothing like the gains many of you have posted in Abeona Therapeutics Inc. (ABEO), and then yesterday in Patriot One Technologies Inc. (PTOTF).
We put out ABEO back in June around $5 bucks a share. Now, the stock's at $17 a share. That's a nice fat three bagger from current levels. Don't get me wrong, we have our fair share of losers - that's just the way the small and micro-cap world is. However, if you're willing to accept the risk associated with small stocks, well you can see the potential reward right there.
If that wasn't good enough, we've been quietly pounding the table on Patriot One Technologies Inc. (PTOTF) ever since we picked up coverage on it several months back. It took some time for sure, but did you see what the stock did yesterday on the heels of their FCC approval announcement on Monday?
Holy cow - the stock posted a nice double from Monday to this morning's high. Look at this chart. Of course this also comes on the heels of Sunday night's tragic event over in Las Vegas, so considering Patriot One is in the business of identifying concealed weapons with their PATSCAN(TM) technology, it's no wonder the stock did what it did.
There's a lot out there that simply believe outlawing guns will do the trick, but the reality is guns are always going to somehow fall into the hands of the wrong people if they want them that bad. At least Patriot One's technology has the ability to identify weaponry without having the individual person in question having to submit to search.
Here's a demo of the company's technology here: https://patriot1tech.com/solutions/overview/. Check it out. If you think this has got the potential I've thought it has had all along, then you can see why shares of PTOTF have done what they've done over the last few days.
Although it still sickens me to think that people can be capable of what happened in Vegas on Sunday night, I am happy for those who've been patiently believing in Patriot One's future as a security force to be reckoned with.