A Look Ahead: Next Week's Market-Moving Events

By Oliver Pursche  NOV 23, 2012 11:18 AM

Today there are over 100 stocks in the S&P 500 with positive momentum.


MINYANVILLE ORIGINAL Stocks performed well during the shortened Thanksgiving week, gaining about 1.5%, getting a boost on Friday as it appears that retailers’ strategy to move “Black Friday” to “Black Thursday” could pay off, as traffic and early sales volume reports are stronger than expected. Investors should be warned and recall the same period in 2008, when Thanksgiving weekend retail sales were also very strong, only to fizzle out over the coming weeks.
Next Week's Market Moving Events:
The Trade: As of Friday November 23, there are 108 stocks within the S&P 500 (INDEXSP:.INX) with positive momentum (up from 42 a week ago), concentrated in the consumer staple and consumer discretionary sectors. Continue to rotate into the sectors with best momentum, especially if this week's data is strong. Tech, telecom, and utilities appear set to underperform again this week. 

Follow Oliver Pursche on Twitter: @opursche.
No positions in stocks mentioned.