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5 Must-See Stocks to Trade for Gains

SPDR S&P 500 ETF

Before we get into any new names, though, I want to revisit a recommendation from last week that's still very relevant from anyone who has skin in the game right now. I'm talking about the SPDR S&P 500 ETF (SPY), a fund that essentially mirrors the S&P 500 index. Last week, I said that "with the S&P bouncing, it looks like a good time to 'buy' the broad market" by picking up units of SPY.

That turned out to be a good move -- the ETF has rallied 6.78% in those last five trading days.

Now, though, investors and traders alike are wondering how much longer the rally can last. With the S&P breaking hard above its past 1,345 resistance level, I think that the index stands a solid shot at taking out previous highs in July. To do that, we'll want to see the index settle a bit -- it's looking pretty overbought now. Some sideways consolidation would do the trick without forfeiting any recent gains.

As long as the S&P can hold its head above its 200-day moving average, I'd be a net buyer of stocks.

Related: 10 Best-Performing S&P 500 Stocks of 2011
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SYM TRADE IT LAST %CHG
SPY $210.77 0.69%
DE $93.63 1.25%
EC $11.54 4.06%
GOOG $631.93 0.63%
MCD $98.21 0.90%

Markets

Chart of I:DJI
DOW 17,751.39 +121.12 0.69%
S&P 500 2,108.57 +15.32 0.73%
NASDAQ 5,111.7330 +22.5270 0.44%

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