5 Rocket Stocks Worth Buying This Week
Spain needs money to recapitalize its banks, it seems. The kingdom formally asked for up to 100 billion euros from European stability funds this morning, a move that signals that things are still very bad over at the region's fourth-largest economy. This week is going to be full of headline risk from the EU. Leaders are meeting on Thursday for a two-day summit that's meant to shore up eurozone banks. If leaders can come up with an elegant solution for the debt crisis, investors will probably start buying with both hands again; if they can't, expect that "risk off" button to stay pressed.
Meanwhile, there are some more optimistic situations taking place in a handful of Rocket Stocks this week. Today, we'll look at five names that are worth buying 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.
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In the last 156 weeks, our weekly list of five plays has outperformed the S&P 500 by 82.67%.