BALTIMORE ( Stockpickr) -- Brace for impact. With the S&P 500 as little as two measly points away from new all-time highs last week, drama in Cyprus is sending broad indices down considerably this morning.
While U.S. markets are only just roaring to life as I write, overseas markets are already showing pretty significant corrections. The Nikkei 225 was the worse of the developed country declines, down more than 2.7%. In Europe, the Euro Stoxx 50 and FTSE 100 are off 1.6% and 0.7%, respectively, on the news that Cyprus was delaying the vote needed to secure rescue loans for a second day.
The tiny nation may make up a tiny fraction of the eurozone's GDP, but the anxiety it's causing -- through lines at ATMs, for instance -- is spreading to other countries as well.To combat the selling, we're turning to a new set of Rocket Stocks 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. In the last 191 weeks, our weekly list of five plays has outperformed the S&P 500 by 75.65%. >>5 Dow Dogs That Could Stomp the Market in 2013 Without further ado, here's a look at this week's Rocket Stocks.