Yesterday, we kicked off 2016 on Wall Street … and it was the worst opening day for the market since 1932. Nearly every stock saw a decline from its closing price on New Year’s Eve, and each of the major indexes saw more than 2% declines at various points during the day.
However, there were still pockets of strength in the market (as there always are). I thought that today we’d look at four positions from my managed portfolios that had positive gains yesterday and talk about what the data can tell us about them.
Maxwell Technologies, Inc. (MXWL)
Maxwell Technologies develops energy storage and power delivery solutions that range from transportation and renewable energy to wireless communications and consumer electronics. Its shares closed on New Year’s Eve at $7.14, and like most other stocks, it started Monday with a decline. However, the price began to rally roughly an hour after markets opened, and we ended the day at $7.15—a 0.14% gain.
Maxwell is currently ranked a Buy in the Turner Analytics database, with a good Fundamental Score (57 out of 100) and a very good Technical Score (79 out of 100). The stock received full marks when rated for Quarter-Over-Quarter Revenue Growth, Year-Over-Year Earnings Growth and Institutional Holding. It is also showing above-average performance in its Industry (Diversified Electronics) and Sector (Technology).
ProShares UltraShort Bloomberg Crude Oil (SCO)
SCO is an ETF that seeks daily returns that are roughly two times the inverse of the Bloomberg WTI Crude Oil Subindex. SCO closed 2015 at $133.64, but it saw after-hours declines that continued into the New Year. Its rebound started about 30 minutes after 2016 trading began, and it was able to close the day at $133.72 (a 0.15% gain).
The Turner Analytics database ranks SCO as a buy, too. We rank ETFs solely on technical factors, and this one received a good total score of 100 out of 200. It’s performing right on par with its Industry Focus (Oil Industry Focus), and it’s posting above-average results for its Region Focus (Global Markets Focus).
ProShares Short MSCI Emerging Markets (EUM)
EUM is another ETF, and its aim is to post daily investment results that correspond to one times the daily inverse of the MSCI Emerging Markets Index. This ETF is unique in that it stayed above its previous close all day on Monday—something that very few stocks or ETFs can claim. It closed at $29.46 last Thursday, opened at $30.25 on Monday and stayed relatively flat all day. EUM closed yesterday at $30.24, which was a 2.68% gain from its previous close.
In the Turner Analytics database, EUM posts a total score of 188 out of 200, which makes it a Strong Buy. It is reporting average gains compared to its Industry Focus (Non-Specific Industry Focus) and above-average gains compared to its Region Focus (Emerging Markets Focus).
Tesoro Corporation (TSO)
Tesoro creates and sells refined petroleum products, including jet fuel, gasoline, asphalt and more. TSO saw quite a few ups and downs on Monday, reaching as high as $109.24 and going as low as $104.78 (it closed 2015 at $105.37). Overall, the share price stayed in the positive range for most of the day, and it closed at $107.10—a 1.64% gain.
The Turner Analytics database confirms that this stock is a Buy, too. It has very good Fundamental and Technical Scores (60 out of 100 and 70 out of 100, respectively), including full marks for Quarter-Over-Quarter Earnings, Year-Over-Year Earnings, Multi-Year Earnings, Return on Equity and Stock Price. Interestingly, though, TSO is below average when compared to its Industry (Oil and Gas Refining and Marketing) and Sector (Basic Materials).
As you already know, I’m a big believer in trusting the data, and days like yesterday confirm this for me. These four stocks and ETFs show that positions with strong data rankings are strong holdings overall that can do well, even in a market selloff.
To stay on top of my latest stock rankings, consider subscribing to my Turner Analytics database. If you would like a more managed portfolio of stocks, consider subscribing to Signal Investor. Or if you are looking for shorter-term trades, Perfect 10 Trader may be the right service for you.