BALTIMORE (Stockpickr) -- Investors mashed the "risk on" button following last week's European summit, sending the S&P 500 soaring 2.49% on Friday, providing investors with the biggest single-day gains of 2012. But here's the kicker: Mr. Market is getting shoved higher again to start July. That bodes well for stock investors right now.
All told, last month was the best performing June in more than a decade, with the S&P climbing close to 4% for the month. The fact that investors are shaking off the stigma of the "summer doldrums" to buy equities is a good sign, particularly given some of the fear-driven headlines of the past few weeks.
And now, with earnings season set to officially kick off on July 9 with Alcoa's (AA) second quarter conference call, stock buyers will have a barrage of new fundamental stats to weigh. Based on last quarter's numbers, the S&P is around 20% cheaper today than it was at this time last year - and that discount may not last for long...That's why we're turning to a new set of Rocket Stock names 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. >>ACTIVE STOCK TRADERS: Check out Stockpickr's special offer for Real Money, headlined by Jim Cramer, now! In the last 157 weeks, our weekly list of five plays has outperformed the S&P 500 by 79.12%. With that, here's a look at this week's Rocket Stocks.
Select the service that is right for you!COMPARE ALL SERVICES
Jim Cramer and Stephanie Link actively manage a real portfolio and reveal their money management tactics while giving advanced notice before every trade.
- $2.5+ million portfolio
- Large-cap and dividend focus
- Intraday trade alerts from Cramer
- Weekly roundups
Jim Cramer's protege, David Peltier, identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.
- Diversified model portfolio of dividend stocks
- Alerts when market news affect the portfolio
- Bi-weekly updates with exact steps to take - BUY, HOLD, SELL
24/7 market commentary from Jim Cramer and 20+ veteran Wall Street gurus. Get access to the latest trading ideas on stocks, options, and ETFs as well as a real-time forum to see the pros exchanging their investment ideas.
- Jim Cramer + 20 Wall Street pros
- Intraday commentary & news
- Real-time trading forum
- Actionable trade ideas
All of Real Money, plus 15 more of Wall Street's sharpest minds delivering actionable trading ideas, a comprehensive look at the market, and fundamental and technical analysis.
- Real Money + Doug Kass + 15 more Wall Street Pros
- Intraday commentary & news
- Ultra-actionable trading ideas
Our options trading pros provide daily market commentary and over 100 monthly option trading ideas and strategies to help you become a well-seasoned trader.
- 100+ monthly options trading ideas
- Actionable options commentary & news
- Real-time trading community
- Options TV