Markets at the Crossroads? — I'll Watch, Wait and Buy Gingerly, No Rush

  

Market (and World) Talk

As the midterm elections approach, the political climate heats up in the U.S., along with inflation concerns reflected in the CPI, as high fuel prices continue to work their way through an economy heavily dependent on energy.

Meanwhile, in the Middle East, the heat continues as Iran's proxies — the Houthis in Yemen — launch missile and drone strikes against Saudi infrastructure, seemingly with impunity at this point. Saudi Arabia has become increasingly friendly toward the U.S. and hosts American military forces.

Middle East Regional Map

Above is a strategic geography of the Middle East — including Israel, Jordan, Iran, Yemen, and two vital international shipping chokepoints.

U.S. policy has succeeded in somewhat containing the IRGC radicals in Iran. However, they remain defiant, with a continued jihadist mindset. They act as though they are the victims. But in reality, the IRGC has been exporting terrorism for 47 years.

And America's confrontation with radical Islamic militancy goes back much further — to the days of Thomas Jefferson and Richard Somers, who confronted the Barbary pirates and their attacks on American shipping in the early 1800s.

That era of American history also brings to mind a famous declaration:

"Millions for defense, but not one cent for tribute."

Then we have Russia's aggression against the valiant Ukrainian forces defending their homeland.

If some Americans can't see the right and wrong between Islamic radicals seeking to impose Sharia law on free countries and outright Russian aggression that has resulted in more than two million military casualties since the full-scale invasion of Ukraine in 2022, it is something to ponder in reflection of the current state of world affairs.

It seems further headwinds are not only affecting the markets, but they also fuel continued war and conflict.  The world seems on fire. Maybe more people with a common sense of history going back to America in days of the US constitution with Ben Franklin, G. Washington and T. Jefferson (dealing with the radical Islamic's of the Barbery pirates) into the days of the World Wars to today's world with a sense of appreciation for the balance of not only the Democracy BUT also the Republic for which it stands - will prevail. Hope springs eternal.

Back to Market Talk - Let's not ignore that major market indices have attained all-time highs in 2026. BUT beneath those headline numbers, many individual stocks remain challenged, with some still trading below their highs of 2025.

Here at the Jones report, I've presented no personal illusions that this market can be trusted to not suddenly fall into corrective territories.  That is exactly why we say maybe "some" and "not too much" and even just one share at a time, over time - if any.

Stock Talk

Even as this note is being penned, the market is selling off some of what are considered the "AI stocks." Semiconductor stocks tied to data centers are in sell mode today, and yet they will likely be back in buy mode again.

AI won't be stopped. But these stocks have had a great run, some supported by very real earnings, such as memory chip maker Micron (MU).

The constant question is "valuations" after running hot for so long. Let's consider a few stocks we watch.

Previously, I reported on Lam Research Corporation (LRCX) as a stock to watch based on their ubiquitous use of Lam tools used for etching and deposition at many chip manufacturers in America and around the globe.  I brought it up in the 60's here and it surged to over $400 just this year.  It's now correct into the high 200's in this latest chip selloff.  As example, I bought just ONE share today in the high 200's.

There is another US Based tool maker - KLAC - that provides tools for testing and verification of chips. This is complementary to Lam in the chip making process.  KLAC is also taking a hit today.

If and as the market corrects, in general - The coming days or months may present better opportunities to just watch and maybe pick up cheaper shares - and for some of the higher ones - maybe just ONE share over time.  This assumes some dry powder is ready to be deployed as time goes on- if anybody follows this report.

The following are a few symbols we watch:

LRCX

KLAC

GFS

NVTS

SKM

ONCY — Since this was the topic of the Sunday Edition, see the update and PanCAN news today, if watching.

The above is not a comprehensive list of stocks we watch, but they all have characteristics that make them interesting for leveraged upside should their potential come to fruition — and, in some cases, it already has.

Stay Watchful

- Jones Report

This site is just for fun and insight, with no sponsors and no affiliations. If you like this free Jones Report, tell a friend. Why not?

________

If interested - scroll back and view notes on other stocks, we watch here at the Jones report.  Why not? With the caveat that things change and we try to stay aware - It's all FREE to read and make your own calls and decisions.  Finally - maintain some dry powder and trade or invest according to your own due diligence.

______________

More later so ....Stay tuned, if you dare!

For now, we close by noting that any view on the market and stocks on any particular day may change in the days to come. That is why we watch and see how our views match up with reality.  Looking ahead a few months may be a way to do things - but thinking too deeply about world events and the recent alliances forming, can make projecting ahead a dicey endeavor. 

All in all - we use the word maybe "some", not "too much" and play it accordingly.  Never get arrogant in our notions because things do change - and individual stocks are subject to many factors outside our control. So, we try to -stay aware.

With all the above caveats and attempted prognostications, I will close this post. Stay tuned for more opining on the market and stocks to watch.

___________

ALL in my humble opinion, scroll down and read more.  This site does NOT make Buy / Sell recommendations.

Sunday Edition: An Underdog Penny Stock with Big Possibilities in the Fight Against Cancer — Pela (ONCY)

 

Sunday Edition

An Underdog Penny Stock with Big Possibilities in the Fight Against Cancer — Pela (ONCY)

Earlier Jones Reports have explored some intriguing "what if" possibilities surrounding Oncolytics Biotech (ONCY) and its experimental cancer treatment, Pelareorep — or Pela.

Before going any further into the "what ifs," let's remind ourselves this is speculation, based on "some" encouraging scientific evidence from relatively small clinical trials. But let's also remember that many of these trials have involved patients with advanced cancers, often with few treatment options remaining.

Perhaps an urgent unmet need to help courageous cancer fighters is one reason the FDA seems to be engaging more closely with Oncolytics lately. At the same time, let's not forget that putting real money into even "some" shares of an underdog penny stock carries risk. So let's keep our expectations humble.

Pela is a naturally occurring reovirus, first studied during the polio research era of the 1950s, including work by famed polio vaccine pioneer Dr. Albert Sabin. Today, that virus is cultivated and amplified into an experimental IV treatment designed to stimulate the body's immune response against cancer.

Now, with initial results from the REO-033 colorectal cancer trial anticipated around year's end, another important "what if" is approaching.

Recall that the earlier, small REO-022 trial produced an impressive 33% objective response rate (ORR) compared with historical standard-of-care benchmarks of approximately 6–11%. The trial also reported encouraging evidence of longer survival.

Unlike the earlier trial, REO-033 is designed to compare Pela's results against an actual control group receiving standard treatment, rather than relying on historical comparisons.

Importantly, Pela has already received FDA Fast Track designation, and Oncolytics and the FDA have made significant progress toward establishing a potential pivotal expansion of REO-033, with ORR serving as a possible basis for accelerated approval.

Consider the possibilities.

What if the initial REO-033 results begin to confirm the earlier findings? Or better yet, what if they exceed them substantially?

Could such results prompt the FDA to consider an extraordinary acceleration of Pela's development and potential approval?

And here is another intriguing possibility.

Could Pela become a candidate for FDA Breakthrough Therapy designation?

There is an interesting historical precedent.

Merck's blockbuster cancer immunotherapy Keytruda received Breakthrough Therapy designation in January 2013, followed by its initial FDA approval in September 2014.

But consider something else about Keytruda.

Despite its remarkable success in treating several cancers, evidence has demonstrated that Keytruda alone is often ineffective against immunologically "cold" tumors, particularly microsatellite-stable colorectal cancers.

In fact, one early clinical study reported no objective responses among 18 patients with mismatch-repair-proficient colorectal cancer treated with Keytruda.

And that brings us back to Pela...

Earlier clinical studies have demonstrated Pela's ability to stimulate immune activity within tumors, potentially providing the very immune activation that treatments such as Keytruda need to become more effective against otherwise resistant cancers.

Pancreatic cancer tumor biopsy — immune-cell activity

Figure 8: Distinct Distribution of Tumor Infiltrating Leukocyte (TIL) populations and Metabolic Alteration

Study: https://oncolyticsbiotech.com/wp-content/uploads/2022/12/ASCO-2021_final.pdf

These studies have also demonstrated a generally favorable safety profile, with encouraging evidence of longer survival in certain cancer treatment combinations.

Although REO-033 is not testing Pela with Keytruda, compelling results could strengthen interest in Pela's broader potential as an adjunct to existing cancer treatments.

And what about Big Pharma?

Could extraordinary REO-033 results, potentially followed by Breakthrough Therapy designation, suddenly change the level of interest among major pharmaceutical companies?

Might licensing agreements, development partnerships, or even acquisition possibilities begin taking on an entirely different dimension?

After all, Pela's potential application across multiple cancer types could represent a much larger opportunity than colorectal cancer alone.

And consider another possibility.

Because Pela is administered separately from existing cancer treatments, one can envision a future where patients might visit convenient outpatient infusion clinics to receive Pela as an adjunct therapy, under the direction of their oncologists.

Such a development could open an entirely new dimension in the delivery of cancer treatment.

Now, consider the bigger picture.

For years, the vision has been that a naturally occurring virus could become the missing piece that helps existing cancer treatments save more lives.

Earlier Jones Reports coined the term "The Trinity Approach" — envisioning the potential combination of Pela with checkpoint inhibitors and antibody-drug conjugates.

But perhaps there's another intriguing dimension to that name.

Consider a virus provided by nature, studied decades ago by Dr. Sabin, and now cultivated and amplified by Oncolytics into a potential weapon against cancer.

Could there even be a touch of divine Providence in this long journey? Who knows?

Again, let's stay humble in our expectations and keep it to the science. After all, ONCY trades well under a buck, and its following seems largely confined to a group of us retail scientists, believers, and hopefuls.

And as earlier Jones Reports have suggested, I now proclaim that a wake-up call may be coming for institutional money managers. If the initial REO-033 ORR readout points convincingly upward, perhaps Wall Street will finally begin taking a closer look at this underdog penny stock.

What might that mean for Oncolytics itself?

Could today's underdog penny stock eventually emerge as a key player in the fight against cancer?

Perhaps the approaching REO-033 results will begin to tell us whether some of these extraordinary possibilities could become reality.

For a little penny stock with such enormous potential, that would be quite a story.

This report has presented some intriguing "what if" scenarios.

For those of us willing to take a chance on something with the potential to make a real difference, perhaps owning just "some" shares is a way to be part of it.

But perhaps - not too many to limit the risk.

Let it be known that I still personally hold 1000 ONCY retail shares, now under a buck. Although they are seemingly embattled shares during the wait for the initial readout - I want to see what is actually about to develop with Pela advancement.

- Jones Report

This site is just for fun and insight, with no sponsors and no affiliations. If you like this free Jones Report, tell a friend. Why not?

________

If interested - scroll back and view notes on other stocks, we watch here at the Jones report.  Why not? With the caveat that things change and we try to stay aware - It's all FREE to read and make your own calls and decisions.  Finally - maintain some dry powder and trade or invest according to your own due diligence.

Sunday Edition: Democrats Beware — America, Stay Watchful

 

Sunday Edition: Democrats Beware

This is a brief note to cast a warning to all Democrats from a son of what history is recording as America's “Greatest Generation” — and a longtime independent.

With the midterm elections just 30 days away, here is some food for thought...

Beware wolves in sheep’s clothing.

That's what I believe this latest Democratic Socialists of America — DSA — movement represents for America.

For generations, Americans have been pledging allegiance to the flag and to “the Republic for which it stands.”

The DSA has little regard for the Republic as we know it and wants to tear down fundamental parts of the system of checks and balances our forefathers created in the Constitution signed in Philadelphia in 1787.

They propose abolishing the United States Senate and replacing our two-house Congress with ONE legislative body.

They also call for abolishing the Electoral College, removing another constitutional mechanism through which the states have a distinct role in choosing the President. That would shift even more national political power toward heavily populated metropolitan areas and further weaken the influence of smaller states. That is yet another example of dismantling the constitutional balance our forefathers designed.

They propose replacing the independently elected President with an executive chosen by and subordinate to Congress.

They would also replace the Supreme Court as we know it with a judiciary chosen by and subordinate to Congress.

Think about that for a moment.

The Senate — gone.

The independently elected President — gone.

And much more political power concentrated in ONE legislative body.

What troubles me further is that mainstream Democrats overlook just where these ideas could ultimately lead, as long as negative Trump sentiment continues to work to their political advantage.

Can you think of any disciplined ideological — or religious-political — movements that may favor such an opening?

In closing, let's not forget the cautionary tone of the great Benjamin Franklin. When asked what form of government had been created, Franklin famously replied:

“A Republic, if you can keep it.”

Perhaps those words deserve some renewed thought today.

Democrats Beware.

Stay Watchful.

America — Vote Carefully.

- Jones Report

This site is just for fun and insight, with no sponsors and no affiliations. If you like this free Jones Report, tell a friend. Why not?

________

If interested - scroll back and view notes on other stocks, we watch here at the Jones report.  Why not? With the caveat that things change and we try to stay aware - It's all FREE to read and make your own calls and decisions.  Finally - maintain some dry powder and trade or invest according to your own due diligence.

______________

More later so ....Stay tuned, if you dare!

For now, we close by noting that any view on the market and stocks on any particular day may change in the days to come. That is why we watch and see how our views match up with reality.  Looking ahead a few months may be a way to do things - but thinking too deeply about world events and the recent alliances forming, can make projecting ahead a dicey endeavor. 

All in all - we use the word maybe "some", not "too much" and play it accordingly.  Never get arrogant in our notions because things do change - and individual stocks are subject to many factors outside our control. So, we try to -stay aware.

With all the above caveats and attempted prognostications, I will close this post. Stay tuned for more opining on the market and stocks to watch.

___________

ALL in my humble opinion, scroll down and read more.  This site does NOT make Buy / Sell recommendations. 

Back to the Future with Some Lam Research (LRCX) — Over Time

 

Market Talk

Let's briefly continue the commentary here as the world and markets carry on with their daily silliness of humankind.

Now pause for a moment to reflect on that last sentence. Could that be a taste of how this new "Super Intelligence" views mankind?

So, we are hearing reports about how the very founders of AI companies are casting warnings about how AI proceeds into the new term — "Super Intelligence."

Stock Talk

In recent days, it's interesting that AI has increasingly become a political football, with issues being bantered about involving the rapid speed of development plans, the enormous energy and cooling needs involved, and the massive hardware requirements needed to run AI programs.

These issues can be debated forever.

In addition, new reports are coming to light about the billions and billions of dollars that a company such as Anthropic will have to invest — or commit to — in order to support the infrastructure and vast data-center requirements involved.

It seems to this observer that some of the hoopla surrounding the anticipated Anthropic IPO may now be getting tempered with a dose of reality.

That leads me to wonder even more about the possible "back-door" entry through some of the companies that invested early in Anthropic.

NOW, I am NOT saying a stock like SKM won't do well once the IPO starts selling. BUT, I am pointing to forces that may contradict some of the highly enthusiastic expectations surrounding the Anthropic IPO.

As a personal opinion, I think AI can't be stopped now that the genie is out of the bottle.

Can it be controlled or slowed down through regulation and/or self-governance by the companies involved?

Ask China.

Okay, so let's cut to the chase on a view of what stocks could possibly be gainers.

As I have opined before, this market is not acting the same as last year. Although the major indices have reached or traded near all-time highs, underneath them sectors and individual stocks are still channel surfing.

I have therefore been watching with more "dry powder," along with a few small "test positions" to stay involved and get a feel for the trading levels.

One result has been a notion to focus on some stocks that I can project as possible winners in the coming world.

Generally, I like to focus on what may be undervalued stocks that the market is possibly overlooking.

I'm still sticking with that strategy.

But there are also some higher-valued stocks that merit attention.

Some readers may recall a Jones Report from just April of last year:

 https://stockstowatch.blogspot.com/2025/04/

Lam Research Corporation (LRCX), an American-based company, was trading in the $60s (!). Yep — "back then."

Look at it now.

The importance of what LRCX brings to the world of chips made virtually everywhere has become even more apparent as increasingly advanced chips are required to support AI — and eventually "Super Intelligence."

LRCX has already gained plenty of respect, and earnings have helped validate that respect.

Even so, I have selected LRCX as a stock I am buying in gingerly amounts — ONE share, or just some at a time, over time.

Preferably, it may be fortuitous to target the $300 area since the stock has faded considerably from above $400.

However, it may not wait for another big dip.  Nobody can actually know in this market.

BUT - the "chips of everything" still need the etching and deposition tools that Lam Research provides.

A few other U.S.-based semiconductor stocks are being watched here as well.

NVTS and GFS have been reported on several times, and those reports can be viewed by scrolling through this site.

Some — not too much.

And maintain dry powder.

- Jones Report

This site is just for fun and insight, with no sponsors and no affiliations. If you like this free Jones Report, tell a friend. Why not?

________

If interested - scroll back and view notes on other stocks, we watch here at the Jones report.  Why not? With the caveat that things change and we try to stay aware - It's all FREE to read and make your own calls and decisions.  Finally - maintain some dry powder and trade or invest according to your own due diligence.

______________

More later so ....Stay tuned, if you dare!

For now, we close by noting that any view on the market and stocks on any particular day may change in the days to come. That is why we watch and see how our views match up with reality.  Looking ahead a few months may be a way to do things - but thinking too deeply about world events and the recent alliances forming, can make projecting ahead a dicey endeavor. 

All in all - we use the word maybe "some", not "too much" and play it accordingly.  Never get arrogant in our notions because things do change - and individual stocks are subject to many factors outside our control. So, we try to -stay aware.

With all the above caveats and attempted prognostications, I will close this post. Stay tuned for more opining on the market and stocks to watch.

___________

ALL in my humble opinion, scroll down and read more.  This site does NOT make Buy / Sell recommendations. 

Sunday Edition: An Underdog Penny Stock with Big Possibilities in the Fight Against Cancer— Pela (ONCY)

 

An Underdog Penny Stock with Big Possibilities in the Fight Against Cancer — Pela (ONCY)

Earlier Jones Reports have explored some intriguing "what if" possibilities surrounding Oncolytics Biotech (ONCY) and its experimental cancer treatment, Pelareorep — or Pela.

Before going any further into the "what ifs," let's remind ourselves that this is speculation, based on "some" encouraging scientific evidence from relatively small clinical trials. But let's also remember that many of these trials have involved patients with advanced cancers, often with few treatment options remaining.  Perhaps an urgent unmet need to help courageous cancer fighters is one reason the FDA seems to be engaging more closely with Oncolytics lately. At the same time, let's not forget that putting real money into even "some" shares of an underdog penny stock carries risk. So let's keep our expectations humble.

Pela is a naturally occurring reovirus, first studied during the polio research era of the 1950s, including work by famed polio vaccine pioneer Dr. Albert Sabin. Today, that virus is cultivated and amplified into an experimental IV treatment designed to stimulate the body's immune response against cancer.

Now, with initial results from the REO-033 colorectal cancer trial anticipated around year's end, another important "what if" is approaching.

Recall that the earlier, small REO-022 trial produced an impressive 33% objective response rate (ORR) compared with historical standard-of-care benchmarks of approximately 6–11%. The trial also reported encouraging evidence of longer survival.

REO-033 is designed to determine whether those results can be reproduced in a randomized clinical trial.

Importantly, Pela has already received FDA Fast Track designation, and Oncolytics and the FDA have made significant progress toward establishing a potential pivotal expansion of REO-033, with ORR serving as a possible basis for accelerated approval.

Consider the possibilities.

What if the initial REO-033 results begin to confirm the earlier findings? Or better yet, what if they exceed them substantially?

Could such results prompt the FDA to consider an extraordinary acceleration of Pela's development and potential approval?

And here is another intriguing possibility.

Could Pela become a candidate for FDA Breakthrough Therapy designation?

There is an interesting historical precedent.

Merck's blockbuster cancer immunotherapy Keytruda received Breakthrough Therapy designation in January 2013, followed by its initial FDA approval in September 2014.

But consider something else about Keytruda.

Despite its remarkable success in treating several cancers, evidence has demonstrated that Keytruda alone is often ineffective against immunologically "cold" tumors, particularly microsatellite-stable colorectal cancers.

In fact, one early clinical study reported no objective responses among 18 patients with mismatch-repair-proficient colorectal cancer treated with Keytruda.

And that brings us back to Pela...

Earlier clinical studies have demonstrated Pela's ability to stimulate immune activity within tumors, potentially providing the very immune activation that treatments such as Keytruda need to become more effective against otherwise resistant cancers.

Pancreatic cancer tumor biopsy — immune-cell activity

Figure 8 : Distinct Distribution of Tumor Infiltrating Leukocyte (TIL) populations and Metabolic Alteration

study: https://oncolyticsbiotech.com/wp-content/uploads/2022/12/ASCO-2021_final.pdf

These studies have also demonstrated a generally favorable safety profile, with encouraging evidence of longer survival in certain cancer treatment combinations.

Although REO-033 is not testing Pela with Keytruda, compelling results could strengthen interest in Pela's broader potential as an adjunct to existing cancer treatments.

And what about Big Pharma?

Could extraordinary REO-033 results, potentially followed by Breakthrough Therapy designation, suddenly change the level of interest among major pharmaceutical companies?

Might licensing agreements, development partnerships, or even acquisition possibilities begin taking on an entirely different dimension?

After all, Pela's potential application across multiple cancer types could represent a much larger opportunity than colorectal cancer alone.

And consider another possibility.

Because Pela is administered separately from existing cancer treatments, one can envision a future where patients might visit convenient outpatient infusion clinics to receive Pela as an adjunct therapy, under the direction of their oncologists.

Such a development could open an entirely new dimension in the delivery of cancer treatment.

Now, consider the bigger picture.

For years, the vision has been that a naturally occurring virus could become the missing piece that helps existing cancer treatments save more lives.

Earlier Jones Reports coined the term "The Trinity Approach" — envisioning the potential combination of Pela with checkpoint inhibitors and antibody-drug conjugates.

But perhaps there's another intriguing dimension to that name.

Consider a virus provided by nature, studied decades ago by Dr. Sabin, and now cultivated and amplified by Oncolytics into a potential weapon against cancer.

Could there even be a touch of divine Providence in this long journey? Who knows?

Again, let's stay humble in our expectations and keep it to the science.  After all, ONCY trades well under a buck, and its following seems largely confined to a group of us retail scientists, believers, and hopefuls.

And as earlier Jones Reports have suggested, I now proclaim that a wake-up call may be coming for institutional money managers. If the initial REO-033 ORR readout points convincingly upward, perhaps Wall Street will finally begin taking a closer look at this underdog penny stock.

What might that mean for Oncolytics itself?

Could today's underdog penny stock eventually emerge as a key player in the fight against cancer?

Perhaps the approaching REO-033 results will begin to tell us whether some of these extraordinary possibilities could become reality.

For a little penny stock with such enormous potential, that would be quite a story.

This report has presented some intriguing "what if" scenarios.

For those of us willing to take a chance on something with the potential to make a real difference, perhaps owning just "some" shares is a way to be part of it.

But perhaps - not too many to limit the risk.

Let it be known that I still personally hold 1000 ONCY retail shares, now under a buck.  Although they are seemingly embattled shares during the wait for the initial readout - I want to see what is actually about to develop with Pela advancement.

- Jones Report

This site is just for fun and insight, with no sponsors and no affiliations. If you like this free Jones Report, tell a friend. Why not?

________

If interested - scroll back and view notes on other stocks, we watch here at the Jones report.  Why not? With the caveat that things change and we try to stay aware - It's all FREE to read and make your own calls and decisions.  Finally - maintain some dry powder and trade or invest according to your own due diligence.

______________

More later so ....Stay tuned, if you dare!

For now, we close by noting that any view on the market and stocks on any particular day may change in the days to come. That is why we watch and see how our views match up with reality.  Looking ahead a few months may be a way to do things - but thinking too deeply about world events and the recent alliances forming, can make projecting ahead a dicey endeavor. 

All in all - we use the word maybe "some", not "too much" and play it accordingly.  Never get arrogant in our notions because things do change - and individual stocks are subject to many factors outside our control. So, we try to -stay aware.

With all the above caveats and attempted prognostications, I will close this post. Stay tuned for more opining on the market and stocks to watch.

___________

ALL in my humble opinion, scroll down and read more.  This site does NOT make Buy / Sell recommendations.