Quick Win by the Algorithm:

On May 19th, 2017, the I Know First algorithm issued a bullish 3 Month forecast for Calumet Specialty Products Partners L.P. (NASDAQ: CLMT). The forecast showed a signal of 71.69 and a predictability of 0.53. As a result, in accordance with the forecast, the company’s stock produced a return of 48.86% over this period, solidifying another quick win by the I Know First algorithm.

Calumet Specialty Products Partners, L.P. is a producer of specialty hydrocarbon products in North America. The Company operates through three segments: specialty products, fuel products and oilfield services. Its specialty products are sold to domestic and international customers. Using its products as raw material components for basic industrial, consumer and automotive goods. Lastly, in its fuel products segment, the Company processes crude oil into a range of fuel and fuel-related products, including gasoline, diesel, jet fuel, asphalt and heavy fuel oils, and resells purchased crude oil to third-party customers.

Calumet presented this comment on its first and last main slide section: “Turnaround Story Still in Early Innings – New team management, culture shift, empowered employees, stabilized liquidity and business starting to turn the corner.” Prior to this statement, management hesitated in positively answering questions concerning its financial future viability. Moreover, Calumet hopes that a culture change can ignite the company and bring upon a turnaround.

Interestingly, Calumet announced two new products for its specialty business. These products were both in-house developments. The first, CALPARTM 4GIII, is the first virgin produced of Group III synthetic base oil in the U.S. The second, Naphthenic transformer oil, meets the International Standard IEC 60296. Consequently, this announcement sparked a rise in stock price from roughly $3 to $5. It will take more sustained positive news and results for investors to believe that CLMT is in fact turning the company around.

Current I Know First subscribers received this bullish CLMT forecast on May 19th, 2017. 

Before making any trading decisions, consult the latest forecast as the algorithm updates predictions daily. You can use the algorithm for intra-day trading. The predictability tends to become stronger with forecasts over longer time-horizons such as the 1-month, 3-month and 1-year forecasts.