Past week recap: Despite the major indexes already at record highs, still more institutional investors were buyers again last week, driving prices even higher – buoyed by the quick end to the government shutdown and more importantly, reports of increased consumer spending, business spending and more favorable corporate earnings reports than unfavorable. Also helping was Trump’s speech to the international business community at Davos which may have attracted more buying in the U.S. stock market from international investors.

Long positions continue to be our main source of gains. Many resumed their upward move last week after pausing the week before, with many setting new weekly highs again. Shorts were mixed – some continued down, others were flat and some rose, at least for now, influenced by the overall upward market bias. Trades again are few.

Highlights: 8 new weekly highs in long positions. 12 stocks with double-digit long gains:

  • EVTC +13%
  • FMSA +23%
  • CECO +31%
  • PES +40%
  • BXC +64%
  • FOLD +14%
  • NCI +29%
  • FTK +34%
  • LPSN +70%
  • HNRG +14%
  • URBN +62%
  • NGL +19%

No new weekly lows among short positions. No stocks with double-digit short gain.

Locking in short gain of +20% in TRUE (18 weeks).