Tim Sykes here…
It has been another crazy week, we have seen some of the most volatility in years and the market is showing no signs of slowing down as earnings season just started back up. Last Wednesday and Thursday the Dow was down over 1300 points, mostly on the 10 year Treasury hitting 7 year highs in yield. Then this Tuesday the Dow rallied back almost 500 points and acted like nothing had ever happened.
Solid earnings from big blue chips such as GS, MS, and Netflix, have pushed this market higher early this week. Perhaps, investors just needed a reminder that the U.S. economy is still firing on all cylinders and that S&P 500 companies are expected to post year-over-year earnings per share growth of 21% in the third quarter of 2018.
The proof will be in the earnings that companies report, hold on tight for a bumpy ride through the rest of October.
Here are some stocks with news that have been on the move this week…
YECO is the biggest winner in sometime as it has catapulted from 1 to 12 in a single day. This low float play has completed the acquisition of Millennium Sapphire for $50M.
VTVT is up over 40% as the company will be presenting positive data on Alzheimer’s.
OMED rallied from 1.88 to 3.20 in the last couple of days on positive early stage data that their drug is more effective in treating resistant ovarian cancer.
MNGA up 15% on record revenue
CLWT, CADC, CNET: All Chinese low float plays moving higher in sympathy with YECO .