BALTIMORE ( Stockpickr) -- Don't let the S&P 500's innocuous 0.54% bump last week fool you -- it was a very big week for the big index. The S&P 500 plowed through to new all-time highs on Thursday, and it was no early April Fool's joke.
New highs may sound like an irrelevant market statistic, but in fact they're an important part of a positive feedback loop that helps to keep the market splashing up against new, higher high water marks. With everyone who's "in the market" effectively sitting on gains this morning (barring the occasional bad investment), the psychological drag of a "back to even" mentality isn't standing there to stifle stock prices.
Looking back over the last century, new highs weren't exactly the rare phenomenon that they may sound like. In fact, over the past five decades, market averages made new highs almost every month - it's a natural part of a bull market. I think we're in store for some higher highs yet to come in 2013.That's reason enough to take a closer look at five new Rocket Stock names this week. >>5 Stocks Under $10 Set to Soar 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 193 weeks, our weekly list of five plays has outperformed the S&P 500 by 73.3%. Without further ado, here's a look at this week's Rocket Stocks. >>4 Reasons Not to Buy Stocks in 2013