You know, after Wednesday's move into and above some rather important technical resistance, I have to confess I was feeling a little curious. While I know stocks have a valuation-based ceiling nearby, with the major indices punching through some resistance, I was at least willing to entertain the idea of some follow-through on the thrusting move.
And then I remembered something I said last week... the market may do everything it can to make the masses believe a breakout is inevitable, and then pull the rug out from underneath them. With today's feeble follow-through withering away to nothing by the time the closing bell rang, I just want to reiterate that possibility today. That is, this market remains elusive, and the things that should work haven't been working very well.
Good morning, one and all. How does the old saying go? When it rains, it pours? It's certainly been true of our Featured Stocks this week - we've had more good news to deliver than time to deliver it. We'll do a little catching up today, putting Pivot Pharmaceuticals (PVOTF) in the spotlight following news posted yesterday morning.
Don't worry... this news is still quite meaningful. On the other hand, knowing what we know about how quickly Pivot Pharmaceuticals is moving behind the scenes, I wouldn't put the news on the shelf to review at a later date. Once PVOTF gets going in earnest, it may never look back again.
Just as a quick refresher, Pivot Pharmaceuticals specializes in treating rare diseases that only affect women. It's not your typical biopharma up-and-comer though. There's a long-term R&D aspect with a big payoff to the company, as well as a near-term opportunity to drive some respectable revenue. And, there's even a possibility for some major mid-term revenue. It's a rarity for a small biopharma name like this to have so much diversity in terms of opportunity and timing of future sales.
Welcome back to the trading week, one and all, and perhaps more important, welcome to the beginning of the first quarter's earnings season. Alcoa (AA) got the ball rolling after the market closed today.
We're going to take a look at Alcoa's numbers in a bit, but those results aren't actually the most important earnings report on our radar today. That honor belongs to Staffing 360 Solutions (STAF), which should post its numbers sometime early tomorrow.
Welcome to the weekend, friends and fellow traders. Well, trading may have ended the week on a quiet note, but let's not overlook the fact that stocks still ended the week in the red. That's the second losing week in the last three. Worse, most of the indices ended the session putting pretty strong pressure on some key technical support levels. And let's not forget stocks are sitting on this fence heading into next week's official beginning of Q1 earnings season. Oy vey.
Anyway, we'll look at how things are taking shape for the market below, as we usually do. We've also got just a couple of other charts to look at today, but there's not a lot of discussion we need to have with them. As they say, a picture is worth a thousand words.
Good afternoon, folks. I'll go ahead and warn you right now we've got another rant for you today. This time our hot button is Sprint Corp (S) - the wireless telecom outfit that inexplicably seems to do whatever it can to dig itself into a deeper hole, while shareholders stand by and let it happen. It's just become stunning at this point.
We'll get to that rant and its corresponding eye-opening chart in a moment. We've got something else even more eye-opening to get to first.