Two of three major stock market indexes continued upward modestly (the DowJones Industrials fell) as buying by institutional investors persisted throughout the week, given there was no significant international or domestic news event to cause concern.
Among our stocks new weekly highs far outnumber new weekly lows again, thus another week that favored our long positions. A few shorts remain productive as well. Some of our recent trades still have yet to get moving. Trades are few.
Analytics: As anticipated, recent adjustments to analytics are resulting in fewer trades each weekend – a good thing if you are a fully invested subscriber, but not such a good thing if you are a new subscriber just getting started. It had been our recommendation that new subscribers enter stocks only upon a new trade signal – but with few trades to choose from each week it is taking quite a while to put all capital to work.
Our new recommendation to new subscribers is to look not only for the highlighted trades, but also consider taking a position in any stock for which the current trade duration is three weeks or less.
Highlights: 7 new weekly highs in long positions. 8 stocks with double-digit long gains:
AGEN +10% OEC +24% TRUE +32% FIVN +51% LPSN +65% NEFF +99%
AMBR +17% FRPT +59%
No new weekly lows among short positions. 1 stock with double-digit short gains:
PIR +28%