Two of the three major market indexes rose again, on continued buying by institutional investors in the absence of any negative economic/political news.
Our particular stocks are not necessarily correlated to the broad market, as many of our stocks trended down last week and there are many more long-to-short trade signals as short-to-long signals this weekend. So at least among our stocks there are many signs that buyers are declining in numbers with sellers now dominating. This could be an indication that a more widespread downtrend is beginning to form.
Highlights: 7 new weekly highs in long positions. 5 stocks with double-digit long gains:
FIVN +17% BZH +58% LPSN +106%
Locking in long gain of +28% in FMSA (7 weeks).
1 new weekly low among short positions. 1 stock with double-digit short gain:
Stock list changes: Deleting ABX and AGEN after routine scheduled evaluation. Adding the following stock with recent compound trading return listed and trade indicated:
Star Gas Partners LP (SGU) [oil & gas operations], +68.3% in past 17 months