With the long-awaited elections in Greece today all eyes are focused on the results to determine the future of Greece’s role in the euro zone. US stocks finished the trading week with gains for the second week in a row alongside the news of the central banks possibly stepping in to help stem the European debt crisis. The top-performers from this trading week came from the healthcare and basic materials sectors as well as a leveraged Treasury Bond Index ETF.
The stocks and ETF in this week’s Big Weekly Winners: Swing Trading with PowerRatings all earned PowerRatings of 8 or higher one week ago on June 8th, 2012.
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Performance of 6/08/12 – 6/15/12 Trading Week
Xenoport, Inc. (XNPT)
After dropping sharply on Thursday and Friday of last week’s trading, shares of Xenoport, Inc. continued to dive on Monday but rallied throughout the week to close over 8%. After opening on Monday in oversold territory XNPT has reverted and is now firmly overbought.
- 6/08/12 Entry Price: 5.33 with a PowerRating of 8
- 6/15/12 Exit Price: 5.79
- Gain: 8.63%
Direxion Daily 30-Year Treasury Bull 3x Shares (TMF)
The Direxion Daily 30-Year Treasury Bull 3x Shares ETF has been sliding since the beginning of June, but TMF saw modest gains this week after gapping-up on last Friday’s open and climbing to end this week in the black.
- 6/08/12 Entry Price: 78.63 with a PowerRating of 9
- 6/15/12 Exit Price: 80.81
- Gain: 2.77%
InterOil Corporation (IOC)
InterOil Corporation specializes in the exploration and development of natural gas and oil in Papua New Guinea. Currently trading above both its 50 and 200-day moving average in overbought territory, IOC earned slightly less than 2% to end the week.
- 6/08/12 Entry Price: 59.83 with a PowerRating of 8
- 6/15/12 Exit Price: 60.86
- Gain: 1.72%
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Joshua Glasgall is Editor in Chief of Connors Research