Big Weekly Winners: Swing Trading with PowerRatings

This week’s trading ended on a low note as the Non-Farm Payroll Report was released on Friday with disappointing news of a weaker US labor market and only 80,000 jobs added in the month of June. The S&P 500 closed the week in the red for the 4th time in the last 8 weeks, while borrowing rates for Spain and Italy spiked dramatically during Friday’s trading. The top-performing stocks from this week came from the healthcare and services sectors.

The stocks in this week’s Big Weekly Winners: Swing Trading with PowerRatings all earned PowerRatings of 8 or higher one week ago on June 29, 2012.

To learn more about PowerRatings, including how to swing trade stocks and ETFs with PowerRatings, click here.

Performance of 6/29/12 – 7/06/12 Trading Week

Synta Pharmaceuticals Corp. (SNTA)

SNTA chart

Shares of Synta Pharmaceuticals Corp. have been rising steadily since early May and reached a new 52-week high during the previous week’s trading. After gapping-down on last Thursday’s open SNTA rallied throughout the week and ended Friday’s trading with an almost 20% weekly gain.

  • 6/29/12 Entry Price: 5.47with a PowerRating of 8
  • 7/06/12 Exit Price: 6.53
  • Gain: 19.38%

CytRx Corporation (CYTR)

CYTR chart

Currently trading above both its 50 and 200-day moving averages, CytRx Corporation shares have seen a recent boost of insider buying as the company received FDA approval for several new products this week. Shares of CYTR enter Monday’s trading in firmly overbought territory.

  • 6/29/12 Entry Price: 4.58with a PowerRating of 9
  • 7/06/12 Exit Price: 5.43
  • Gain: 18.56%

MTR Gaming Group, Inc. (MNTG)

MNTG chart

MTR Gaming Group, Inc. shares opened on Monday very oversold and fluctuated during the week’s trading, but climbed Friday afternoon to gain a little more than 5% to close the week. MNTG representatives also announced last Tuesday that it had been added to the Russell 3000 index.

  • 6/29/12 Entry Price: 4.75 with a PowerRating of 8
  • 7/06/12 Exit Price: 4.99
  • Gain: 5.05%

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