Stock Market Week in Review + Bonus Friday Top Performer
Stock Market Week in Review:
Our weekly summaries are beginning to sound like a broken record: this was another volatile week for the stock market. While markets hinted at calm with a sustained rally in the middle of the week, we called for volatility to continue surging. And, indeed, the modest rally from mid-week has been dissolving into a steep selloff as the week concludes. Apple is leading the way down for major indexes.
A strong earnings season from many top firms provided some positive momentum for the week. With more acute concerns over trade conflict easing and the situation in Korea improving somewhat, the ingredients looked right for a more solidly bullish run by the market this week. Fears over surging interest rates, however, continue to cast a shadow over solid earnings growth (2-year and 10-year US Treasuries are near 2014-highs at the time of this writing).
Such volatility makes predicting the day-to-day direction of market virtually impossible. Such predictions aren’t necessary for news-based traders to find market-beating profits, however. Rather than being tied to a specific direction for a specific stock, we use quantitative methods to profit on momentum generating news-events, no matter the direction of that momentum.
You can find exactly how we do it in one of our totally free weekly training sessions. Simply sign up using the button below.
This week’s Top Performers are another powerful demonstration of the diversity of profitable plays available to News Quantified users each and every week.
Weekly Top Performers
Tuesday saw us switch gears to profit on a Chinese tech stock driving strong investor interest through outstanding revenue growth and intriguing enterprise blockchain experimentation. (NASDAQ:CNET)
Wednesday, we were reminded that even struggling stocks can deliver dramatic long profits. This deep water oil drilling services stock jumped after approval of plans to emerge from the bankruptcy process. (NYSE:SDRL)
Thursday, we switched gears once again to earn some nice profits on a neuroscience-based reading startup that’s receiving some significant new contracts from Wyoming schools. (NASDAQ:SCIL)
Bonus Friday Top Performer: Valeritas Holdings (NASDAQ:VLRX)
Valeritas is a medical device company best known for its V-Go wearable insulin delivery device for sufferers of Type 2 Diabetes. Worn like a patch, the tech eliminates the need for multiple daily shots. Today, they announced an agreement for the commercialization of this treatment approach for the Australian and New Zealand markets.
The stock is dramatically surging on the announcement, up over 130% at the time of this writing. The stock has flirted with gains as dramatic as 250% over the course of the day’s trading.