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Stockpickr) -- So far, May has certainly lived up to the "new month, new market" mantra that's defined stocks in 2013. Since the calendar flipped over on May 1, the
S&P 500 has rallied approximately 5.4% -- that's an annualized pace of 228%!
Clearly, that breakneck pace isn't sustainable. But that doesn't mean that stocks are due for a big pullback necessarily. Based on the last time the S&P went so far so fast during this rally, a period of sideways consolidation looks more likely than a sharp decline.
>>5 Stocks Setting Up to Break Out
As impressive as the broad market's performance was last week, we managed to do one better with a handful of Rocket Stock names.
On average, the
five Rocket Stocks that we looked at last week climbed nearly 4% between Monday's open and Friday's close. That's double the performance of the S&P on one of the index's strongest week's of 2013. This week, we'll attempt to do it again with a new set of Rocket Stocks.
>>5 Stocks Trades for S&P 1,700
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 200 weeks, our weekly list of five plays has outperformed the S&P 500 by 77.4%.
Without further ado, here's a look at
this week's Rocket Stocks.
>>3 Big Stocks to Trade (or Not)