Past week recap: Institutional investors returned from the holiday in an optimistic mood and proceeded to resume buying stocks – many at already high prices – which they must believe are headed even higher.
So one of the longest and largest bull runs in market history continues into 2018.
Most of our stocks reflected the same rising pattern – increasing already good gains in many of our long positions, but offset by rises in some of our short positions. A marked increase in the number of new weekly highs, which currently far outnumber new weekly lows.
As a reminder, however, that not all stocks trend the same, trades this weekend are a mix of short-to-long reversals as well as long-to-short reversals.
Highlights: 9 new weekly highs in long positions. 9 stocks with double-digit long gains:
- FTK +12%
- CECO +22%
- PES +42%
- URBN +58%
- LPSN +70%
- HNRG +12%
- FMSA +24%
- NGL +10%
- NCI +23%
Locking in long gain of +14% in FIVN (18 weeks).
No new weekly lows among short positions. 2 stocks with double-digit short gains:
- EVH +21%
- TRUE +23%