Typical for a Thanksgiving trading week, volume was very light, price movements generally modest and market bias was upward, although oil-related stocks remain stagnant – deliberate over-production by OPEC continues, in an effort to keep supplies high and prices low to force higher-cost U.S. producers out of business.
Oil stocks aside, we will see if recent upward bias in the broad market continues with five weeks remaining in the year – major Indexes are now neutral or slightly positive for 2015 – which has a positive effect on compensation of professional money managers.
Highlights: 8 new weekly highs. Double-digit long gains in MESG +22%, NOAH +29%, PLNR +10%, TROV +13% (first week), TRUE +31%, VIMC +13% and XNCR +15% (first week).
Only 1 new weekly low. Double-digit short gains in AHGP +23% and DENN +15%.
Analytics Update: Effective analytics are obviously key to greater returns. Incorporating two enhancements this week that back-testing has confirmed will provide better trade exits at trend tops and bottoms going forward for enhanced returns. Now utilizing Version 48.
Stock List Changes: Just as influential to greater returns as effective analytics are the stocks chosen for trading. Routine review of all 5000+ NYSE and NASDAQ National Market (NM) stocks continues to identify new opportunities for potential trading returns greater than some of those stocks we currently follow. Additionally, seeing a greater number of formerly productive stocks becoming erratic or stagnant than in years past, so expect continued turnover among our Level 1-3 lists as we seek the best set of stocks by which to maximize trading gains.
Deleting HPQ and MDXG after routine, scheduled review. Adding in their place Agenus Inc (AGEN) [biotech/drugs] with a past 8 month compound trading return of +125.0% and El Pollo Loco Holdings (LOCO) [restaurants] with a past 7 month compound trading return of +52.4% and trades indicated.