5 Rocket Stocks to Buy for Dow 15,000
BALTIMORE ( Stockpickr) -- Last week was a big one for stocks. It brought a new high water mark out in the Dow Jones Industrial Average and the S&P 500, pushing the latter through an important round-number level at 1,600.
As I write this morning, the Dow is hanging just a handful of points shy of its corresponding 15,000 level after printing above it a few times on Friday.Strange as it may seem at first, those big round-number levels in the big indices make for more than just catchy headlines; they're important price levels because of the psychological factors that impact investors. So, when investors are willing to buy stocks en masse above a level like S&P 1,600, it bodes well for the strength of the market. It means that buying is still convicted as the market makes much more conspicuous higher highs. >>5 Stocks Under $10 Set to Surge That bodes well for Mr. Market's upside potential as we round the corner to summer. To take full advantage, we're turning to a new set of Rocket Stock names. 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 198 weeks, our weekly list of five plays has outperformed the S&P 500 by 75.4%. Without further ado, here's a look at this week's Rocket Stocks. >>5 Hated Stocks That Could Pop in May