5 Rocket Stocks to Buy for Gains This Week
BALTIMORE (Stockpickr) -- Mr. Market is in the final stretch of earnings season this week. As I write this morning, 452 names in the S&P 500 have already reported their results to Wall Street. And overwhelmingly, those earnings have been bullish. More than 75% of the names that have already reported have beaten analysts' expectations for the quarter.
That's a solid gauge for the fundamental performance that's happening behind the scenes in 2014.
Read More: Warren Buffett's Top 10 Dividend StocksBut it's not the whole story when it comes to factors impacting equities this week. A lot of pressure is coming from a technical correction in the big indices, a selloff that's taken a material chunk out of the S&P's year-to-date performance since the calendar flipped to August. What's the best way to stay on the right side of price action this week? Focus on the "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 261 weeks, our weekly list of five plays has outperformed the S&P 500's record run by 80.55%. Read More: Do You Own These 5 Toxic Stocks? Watch Out! Without further ado, here's a look at this week's Rocket Stocks.
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