We took some good trades last week, the cream of the crop being $OMN which continued to surge after posting strong earnings. This week should be interesting with the S&P 500 a whisker away from record highs.
As mentioned in the previous post, we do not have a lot of faith in the market at present. Many indicators are flashing red but stock markets continue to rally thanks to the backdrop of loose monetary policy. Even so we will stick to our trading strategies and hope to find alpha in un-correlated opportunities. […]
Global stock markets are currently experiencing extreme volatility with the S&P 500 dropping almost -8% over the last four days. Stocks have continued to fall in Asia and Europe this morning and there is no doubt that this shakeout is a serious one, with the potential to continue for some time.
Last week’s picks produced a marginal profit, with positive returns for our value pick Valero Energy and our short pick Nu-Skin Enterprises. Our short-term reversal pick Disney Inc. saw a small loss, though the stock is still a buy according to the system rules.
Last week’s stock picks put in a mixed performance as stock market conditions remained choppy. Our Marwood Value pick put in a healthy run but overall returns were brought down by Apple shares, which continued to drop.
Commodity prices continued to slip last week, the US dollar gained and stocks ended modestly higher. So far earnings have continued to beat expectations (albeit off a low level) but this is yet to translate into solid gains for the market. Overall, our picks did relatively well last week with healthy profits for BIIB and […]
Chinese shares are lower this morning with the Shanghai Composite Index sinking at least 6% overnight and taking the market back to it’s recent lows. Poor manufacturing data out last week will not have helped and traders will be concerned of volatility spilling over into European and US markets today. With July’s FOMC meeting and GDP numbers […]
Netflix and Google helped contribute to some big gains in the technology space last week. The Nasdaq had one of it’s best weeks of the year, closing higher by 4%. It’s tempting then, to take some cash off the table since the index is beginning to look extended on a short-term basis.
The stock picks are back this week, stay tuned for more interesting blog developments coming soon. News is likely to be dominated by Greece this week after the country failed to come to constructive agreements with international creditors over the weekend. This has moved the country close to default and an exit from the euro.