Investcraft – We Did Good This Week
Another exciting week of trading comes to an end. For those of you who have been following regularly, almost all the stocks I mentioned in this month’s featured stock analysis closed higher from when I first covered them. This includes Pier One @ $2.78 (NYSE: PIR), Maguire Properties @ $1.33 (NYSE: MPG), CDC Corp @ $2.44 (NASDAQ: CHINA), ZIX Corp @ $2.18 (NASDAQ: ZIXI), E*Trade @ $1.66 (NASDAQ: ETFC), MGM Mirage @ $9.41 (NYSE: MGM), and NCTY @ $7.54 (NASDAQ: NCTY).
There were nice gains made on most of these stocks — but in particular, there were very impressive gains in MGM and MPG. The only exception was CPF (NYSE: CPF) which I wrote about when it traded @ $2.68. It closed at $2.64 today for a slight loss. Even stocks that I had covered last month performed well this week — Banco Popular @ $1.94 (NASDAQ: BPOP), KEY Corp @ $6.50 (NYSE: KEY), CIT Group Preferred A @ $2.30 (NYSE: CIT-PA), and Saks Stores @ $6.41 (NYSE: SKS).
There’s a lot of momentum heading into next week with a string of stock upgrades being responsible for the strength today. For next week, I plan to focus on retailers and technology companies. I think there’s a lot of retailers who are in a good position to take advantage of a rebound in consumer spending. There are also a lot of undervalued technology companies that have gotten no love from investors. I plan to cover some of these companies next week and already have my eyes on a few but just haven’t had time to research fully or write about them yet.
Anyways, it’s been a great week and for you loyal Investcraft followers, I hope you’ve all made nice profits this week on your trades!
