5 Rocket Stocks for the Snapback Rally
Stocks are taking the next round of eurozone drama in stride to start the week, with EU markets looking flat this morning, while Asian markets blasting higher past the midpoint of Monday's session. It's all shaping up to extend the short snapback rally that shoved the S&P 500 1.74% higher last week. Stocks are still looking oversold right now, and for folks holding equities, that's a very good thing.
At this stage in the game, the technical and fundamental factors are lining up to support higher prices for equities, especially if U.S. equities can keep shrugging of the black clouds over Europe. We're turning to a new set of Rocket Stocks to take full advantage of the move.
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 152 weeks, our weekly list of five plays has outperformed the S&P 500 by 83.73%.