BALTIMORE ( Stockpickr) -- Last week's price action was a reminder that stocks can still move down. Sort of.
The S&P 500 sold off 1.07% between last Monday's open and last Friday's close, giving stocks a healthy correction that drops May's market performance down to a more sustainable 3.26% month-to-date. Even if this morning's early price action looks likely to boost those gains once again, last week's correction is just what this rally needed.
A short trading week this week should make the four-day stretch to Friday's close interesting this week. 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 201 weeks, our weekly list of five plays has outperformed the S&P 500 by 77.7%. Without further ado, here's a look at this week's Rocket Stocks. >>Warren Buffett's 5 Favorite Stocks for 2013