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TheStreet Open House

5 Stocks for Opportunistic Earnings Traders

Stock quotes in this article: AZO, BBBY, KMX, FDX, NKE, DMND

MINNEAPOLIS ( Stockpickr) -- They say market participants are gluttons for punishment. Indeed, even in this rollercoaster market, investors keep coming back for more. While the economy may be sluggish, the search for profits continues. Greed is alive and well, thank you very much.

Stocks ran the table last week, with five straight days of gains. Fears of imminent collapse in Europe were temporarily on the back burner. But what happens today? Stocks plunge at the open on fears of a collapse in Europe. The rollercoaster continues.

Are you confused yet? You are not alone. Even the pros are flummoxed by this market. On the surface, it would appear that we are left to simply guess where the market will go. On a daily basis, the uncertainty is remarkable.

Related: 9 Small-Cap Stocks With Positive Earnings Trends

Of course, guessing the direction of markets or stocks is a sure way to lose money. Instead, traders would be wise to take advantage of uncertainty by exploiting pricing inefficiencies. The best way to do that, in my opinion, is to trade stocks of companies set to report earnings.

One of my picks last week was Diamond Foods (DMND). On Friday, the stock soared 11.59% thanks to a strong earnings report and upbeat guidance for the future. No mention of Europe fears here in this individual name that greatly outpaced the market.

This week, a good number of heavily traded and recognizable stocks report results. My goal here is to identify the gems that are likely to beat expectations with share prices that are artificially low. With that, here are five stocks for opportunistic earnings traders.

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