Neutral week for the major indexes

Past week recap:  Another neutral week for the major indexes after stocks rose for 3 days then fell right back the final 2 days of the week.  Although many corporate earnings reports were better than expected, earnings guidance for upcoming quarters was more conservative, leaving institutional investors unmotivated to act.  A cautious sentiment continues to hang over the broad market.

 

Our longs were mixed – some continued rising for new weekly highs, but just as many slumped.  Shorts behaved the same – some continued falling for new weekly lows, but others rallied.  Positions of most of our stocks remain so recent that fewer of them than normal have been able to muster much of a price move from their respective entry points.  We wait patiently.

 

Highlights:  7 new weekly highs in long positions.  10 stocks with double-digit long gains:

  • CVRR +14%
  • CRC +39%
  • PES +40%
  • URBN +89%
  • BXC +335%
  • EVH +10%
  • EVTC +32%
  • FMSA +19%
  • SGMA +11%
  • XOMA +10%

 

1 new weekly low among short positions.  No stocks with double-digit short gains at this time.

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