5 Rocket Stocks Ready for Blastoff This Week
BALTIMORE (Stockpickr) -- 10 days. That's how far away the U.S. currently sits from running out of money and theoretically defaulting on the national debt. That realization is gut-punching the markets this morning.
The prospect of a default is bizarre. On one hand, ratings agencies are setting the risks of default pretty low right now -- and so are prices for securities most tightly tied to treasuries. On the other hand, Treasury officials have been publicly reminding congress that we'll default if they don't act now.
So yes, there's a gun to the head of the market right now, the chamber is probably empty.
Even as stocks correct this fall, there's still an opportunity popping up in some of the market's strongest names. That's why we're turning to a new set of Rocket Stocks for this week.
For the uninitiated, "Rocket Stocks" are our list of companies with short-term gain catalysts and longer-term growth potential. To find them, I run a weekly quantitative screen that seeks out stocks with a combination of analyst upgrades and positive earnings surprises to identify rising analyst expectations, a bullish signal for stocks in any market. After all, where analysts' expectations are increasing, institutional cash often follows. In the last 217 weeks, our weekly list of five plays has outperformed the S&P 500 by 92%.
Without further ado, here's a look at this week's Rocket Stocks.