Oil prices hit new highs this week but major stock averages managed to gain anyway. Sentiment continued to improve as retail sales turned out to be decent, housing starts surprised to the upside and weak manufacturing surveys were shrugged off. As a result, this week we have 16 BUY signals and only 2 SELL signals.
Looking back --
Here are a couple of examples of BUY signals from last week's TradeRadar Alert List and the gains they generated in just five days:
- An oil and natural gas company gained 17%
- A company engaged in the purchasing and managing of charged-off consumer receivable portfolios gained 6%
- An insurance company received a buyout offer and is now up 44%
- Another oil and natural gas company has gained 32%
- A telecom company operating in Latin American has gained 26%
As usual, later this weekend I will be writing another post to describe my analysis of the market statistics the Alert HQ software has generated. At first glance, it appears that market internals are rebounding after a couple of lackluster weeks. Are we gathering the momentum for a breakout? Stay tuned for the full analysis.