Under Armour Inc.(NYSE:UA) reported its third quarter results Thursday morning, and it managed to beat expectations. But you wouldn't know that if you looked at its stock price today. It's been trading in the -6% loss territory all day.
Under Armour even set a record in the 3rd quarter by having their first ever $1 billion revenue quarter. In fact, they topped $1.2 billion in revenue and yet, it wasn't enough for investors today. Revenue jumped 28%, topping the $1.18 billion Wall Street expected from Under Armour. Earnings per share also advanced, rising to .45 from .41 a year ago, topping the .44 that analysts were looking for. Is this just profit taking or is there something else going on? I'll share with you my thoughts on Under Armour. Continue reading "Under Armour's Earnings Just Weren't Enough"→
Hello MarketClub members everywhere, no doubt you have seen the sharp rally which started on Friday and continued yesterday. Tuesdays typically are days when you see a reversal and I expect today will be no different from other trend reversal days.
The proximity of major resistance for all three indices indicates that professionals will be selling against those highs. I'm talking about the DOW which has major resistance at 16,993.43, the S&P 500 which has major resistance at 2020.86 and finally the NASDAQ which has resistance at 4960.87. I do not expect those levels to be taken out on this current rally.
The choppy trading action we had been seeing for the past six weeks is a fight between the bullish forces and bearish forces of the market. At times like this, it is best to look at the big picture for the true trend. That picture still indicates to me that the major trend is down for all three indices. Continue reading "A Perfect Day For A Reversal And Some Stocks To Buy"→