It’s been a volatile week. The struggled to find a direction. There were some big movers. Solar stocks are drawing buyers once again. Both SPWR and FSLR had a strong week. We did a +115% trade on FSLR. MNST gave us a nice intraday pop on Friday. Here are the closed trades for the week:
RAX took a huge drop after reporting disappointing results. WFM also took a solid drop, although its earnings did beat analysts’ estimates. IOC has been shooting up higher and higher. It has rallied from $57 to $73 in the past couple of weeks! Speculation on a buyout or asset sale have been fueling the buying in IOC stock. Agriculture stocks were weak. Both CF and AGU took a sizable drop this week. HLF was in the news again, as Icahn revealed a 13% stake in the company. However, HLF basically ended flat after the news.
GOOG continued to make new highs, finishing near $793 for the week. This weekend, there are reports that say Google may open retail stores this year to boost its profile among shoppers. It looks like GOOG could head above $800 next week.
However, the broader market still seems hesitant to push higher. Some stocks have started to roll over. Mining stocks are still very weak. Energy stocks were down on Friday. Agriculture stocks, as mentioned above, finished down for the week. We’ll have to take a closer look at things on Monday evening in my Market Forecast for the new week!
Happy Saturday and HappyTrading! ™