Earnings reports are coming fast and furious these days. And the reports are full of surprises both to the upside and downside.
Upside euphoria in Amazon (AMZN) and Caterpillar (CAT) this week, just to name a couple. We will find out over the next week or two if that euphoria will last in these two stocks.
And…oh boy, I just saw that CAT is on the cover of this week’s Barrons Magazine. When they make the front cover…watch out.
Shares blew up like land mines on US Steel (X) and Seagate Technology (STX). US Steel was down nearly 27% on Wednesday alone, after its earnings report. Seagate also dropped on Wednesday…down 16.7% at the close.
US Steel has now given up 93% of its post election day Trump/infrastructure rally.
Twitter (TWTR) also pleasantly surprised shareholders this week closing up 12% for the week at $16.48. Jack Dorsey bought more shares this week after buying a large chunk in February.
He has now acquired more than 1 million additional shares since January 1, 2017.
Twitter has literally been in a downtrend since it came public back in November 2013. So…what does Jack know?
In today’s free video I review the charts of all these stocks and also look at the S&P 500 ETF (SPY).