November is a Great Month for Markets. AAON, ROKU, TRUP on Watch this Week
Look for November to be a great month for the Market. According to the historical data going back to the 1990’s November Ranks #2 in terms of giving a positive return for the Dow. It ranks #1 for the Nasdaq in terms of Postive returns and #3 for the S&P 500. Note we are talking about Positive Returns not biggest percent gain. We define a positive return as a return greater than 0.
The Nasdaq gives a positive return 75% of the time in November for the Nasdaq, 80%, for the Dow 76% of the time and for the S&P 500 74% of the time. See the break down of the data below:
One of the top stocks in November is AAON. AAON has never had a negative return in the month of November and averages a 7% return in the month of November.
Also keep an eye out for TRUP, INMD, and ROKU. Both of these stocks have a history of making huge moves in November. TRUP averages a 16.03% return in the month of November and has given a positive return in 6 of 7 Novembers. Likewise, ROKU has averaged a 28.53% return in the month of November and has given a positive return in 3 of 4 Novembers. Lastly another interesting stock to watch is INMD. InMode has had a monster year this year and has historically given monster returns in the Month of Number, averaging a 28% return in the month of November. In the case of InMode these sky high returns came after reporting earnings, InMode already reported Earnings in October and rocketed as a result. See the data below:
ROKU and TRUP will be on watch this week as both report earnings on Wednesday November 3rd. If history is any indicator, expect some wild swings.