5 Rocket Stocks to Buy for Correction Gains
BALTIMORE (Stockpickr) -- Stocks cratered last week, the big S&P 500 index dropping approximately 2.7% between Monday's open and Friday's close. For those keeping score, that's the worse single-week run for stocks in two years. And there could be more selling on the way.
By most accounts, the correction in the S&P 500 was well overdue. That big consensus on the need for a retracement in stocks is a concern – after all, the crowd is rarely correct en masse at key turning points. Likewise, the technical picture points to more selling as well before this correction calls it quits.
Read More: Warren Buffett's Top 10 Dividend StocksSo, what better way to tackle the downside risk than with a new set of "Rocket Stocks"? 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 260 weeks, our weekly list of five plays has outperformed the S&P 500's record run by 79.61%. Without further ado, here's a look at this week's Rocket Stocks. Read More: 5 Big Stocks to Buy for Tactical Gains
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