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Dr. Kris hails from the land o' lakes, beer, bratwurst, and Bucky Badger. She traded in her cheese hat for a propeller beanie and has never looked back. She has two degrees from MIT because one just wasn't enough. Her life goal was to figure out the universe and having done that (at least to her... More
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  • Market Notes: Was Today's Drop A One Day Affair? -- January 23 7 comments
    Jan 24, 2014 12:02 AM | about stocks: PVCT, LOGI, LNVGY

    Market Notes: Was today's drop a one day affair?
    Before you bulls get all bent out of shape at today's market drop, you should consider that the market did turn around midday. In fact, the market-leading Dow Transport Index (DTX) actually ended the day in the green--yay! Also, the VIX calmed back down and managed to close below 14--yay again! We might have had a clue that the market was about to reverse when the Trin hit 1.6 right before the turnaround. A Trin reading over 2 used to be the bearish contrarian level but nowadays 1.6--heck, even 1.5-- has been enough to indicate a reversal.

    Earlier in the day we noted the bearish VWAPs (see the Intraday support levels below) but also saw that the bulls were still grousing at the gate. Well, they managed to gather strength and charged in breaking up the bears' encampment. The end of day positive average VWAP values were a very bullish 115--but the end of day negative VWAPs were a fairly bearish 60 as well. This means that the bears are ready to pounce on any sign of weakness. Right now the DTX is thisclose to breaking overhead resistance at 760 and if it can't manage to do that tomorrow morning, we may see a sharp sell-off going into the weekend. Don't forget to pack your parachute!

    Today's Highlights & Lowlights: Computers and peripherals got a boost today with Logitech (LOGI, $16) reporting blow-out quarterly earnings. It also raised FY14 guidance. The combination was music to investors' ears. Acting like it was Black Friday, they elbowed their way into the stock causing the price to rise a whopping 23% on nearly ten times normal volume. The stock looks like it can easily take a run at $18, then perhaps to $20. Also getting some love was Lenovo (LNVGY, $27.50). The stock popped another 4% over yesterday's big breakout after it was announced that they're taking over IBM's server business. Just so you know, they also took over Big Blue's laptop business a while ago and both companies have been in bed together since. They've been working so closely together that I'm rather surprised that they haven't made the marriage official. Soon, perhaps..?

    Well, the past month and a half has been a wild roller-coaster ride for those trading Provectus Pharmaceuticals (NYSEMKT:PVCT), a micro-cap biotech with an experimental treatment for melanoma. This drug has been hyped as a "miracle cure" by "enthusiasts" (aka momentum traders) in stock chat rooms. In just the past two trading days, the stock's price has skyrocketed from $3 to $6. After the stock hit the $6 mark this morning, an article in theStreet.com came out questioning the efficacy of the drug and the fact that the company hasn't been able to get its act together to perform a Stage II drug trial in over two years (you'd think this would have been a giant red flag). Anyway, the story obviously touched a nerve and triggered an explosive sell-off. The stock's price quickly cascaded down to a low of just $1.42 (that's a loss of 76%) in a little over four hours before it managed to claw its way back to end the day at $1.87. Those buying near the open got crushed and my heart goes out to them. (I know how much they are hurting from way too much past experience.) A lot of the traders in this name are probably dining on some tough-tasting crow. The moral of the story? Don't play these momentum names with money you can't afford to lose and if you do happily manage to turn a quick profit, consider yourself one of the lucky ones. That's the end of this story and it's likely the end of Provectus, too.

    Stocks: PVCT, LOGI, LNVGY
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Comments (7)
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  • Nick Santa
    , contributor
    Comments (385) | Send Message
     
    It's a shame you have no idea what you are talking about in regards to $PVCT. Damn shame doctor.
    24 Jan 2014, 12:10 AM Reply Like
  • bradpitt83
    , contributor
    Comments (8) | Send Message
     
    It is so shameful that you have wrong idea. $PVCT has great products such as ph-10 and pv-10. You HAVE to READ this article then you will know what this PVCT is about.

     

    http://bit.ly/1bmbtgB
    24 Jan 2014, 07:39 AM Reply Like
  • Dr. Kris
    , contributor
    Comments (373) | Send Message
     
    Author’s reply » If the drug is so great, why is it taking the company two years to schedule a drug trial? Just wonderin'...
    24 Jan 2014, 02:58 PM Reply Like
  • Nick Santa
    , contributor
    Comments (385) | Send Message
     
    So you are saying the drug is NOT great because of delays to schedule a trial? This is what defines a drug's status? Strange theory you have. If it bothers you, ask the company. I'm curious myself and would like to know exactly why it is taking so long. But it doesn't bother me enough to find out. I'm focused on the product and data available, which are both excellent.
    25 Jan 2014, 12:30 AM Reply Like
  • bd4uandu
    , contributor
    Comments (2074) | Send Message
     
    How bout that LNVGY, Doc? PC's, Servers and Smartphones... What's next?
    29 Jan 2014, 08:59 PM Reply Like
  • Dr. Kris
    , contributor
    Comments (373) | Send Message
     
    Author’s reply » Lenovo has a great looking chart. Rumor has it the company may buy Big Blue...
    30 Jan 2014, 12:31 AM Reply Like
  • bd4uandu
    , contributor
    Comments (2074) | Send Message
     
    Very cognitive Doc
    30 Jan 2014, 05:08 AM Reply Like
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