Global financial markets jumped on Friday as traders expressed their confidence in the European leaders’ new rescue plan for its struggling banks, laying out a more detailed approach to dealing with the crisis. The price of oil also saw the largest single-day gain in several years as it spiked on Friday amid the news from Europe. This week’s top-performers came from the services and financial sectors.
The ETF and stocks in this week’s Big Weekly Winners: Swing Trading with PowerRatings all earned PowerRatings of 8 or higher one week ago on June 22, 2012.
To learn more about PowerRatings, including how to swing trade stocks and ETFs with PowerRatings, click here.
Performance of 6/22/12 – 6/29/12 Trading Week
Direxion Daily Real Estate Bull 3x Shares (DRN)
Direxion Daily Real Estate Bull 3x Shares fell steadily throughout the previous week’s trading and opened on Monday in oversold territory. A leveraged ETF composed of real estate stocks, DRN ended the week extremely overbought with an almost 12% gain.
- 6/22/12 Entry Price: 65.95 with a PowerRating of 8
- 6/29/12 Exit Price: 73.84
- Gain: 11.96%
Brown Show Co. Inc. (BWS)
Shares of Brown Show Co. Inc. rose sharply at the end of the week and reached a new 52-week high during Fridays trading. BWS is currently trading above both its 50 and 200-day moving averages going into Monday’s open.
- 6/22/12 Entry Price: 11.63 with a PowerRating of 8
- 6/29/12 Exit Price: 12.91
- Gain: 11.01%
LivePerson Inc. (LPSN)
Since reaching a new yearlong high last Tuesday, LivePerson Inc. shares gapped-down Wednesday morning and continued to fall to end the week. LPSN reverted and realized an 11% gain during this week’s trading and ended the week in very overbought territory.
- 6/22/12 Entry Price: 17.17with a PowerRating of 8
- 6/29/12 Exit Price: 19.06
- Gain: 11.01%
Learn how to swing trade using PowerRatings! Click here to launch your free trial to PowerRatings today. Free trials include full access to our entire database of stocks, ETFs and leveraged ETFs, as well as swing trader training videos.
Joshua Glasgall is Editor in Chief of Connors Research