5 Rocket Stocks to Buy for Gains This Week
BALTIMORE (Stockpickr) -- The big bounce in the S&P 500 followed through last week, ending the big index 1.2% higher on Friday than it started Monday morning. And this week, there's a lot more upside potential baked into stocks.
According to statistical data from EidoSearch, the 70% of market instances with price action similar to that in the S&P right now ended higher, putting the big index's upside potential almost another point higher for the end of the week.
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That's good news for stock market bulls in August.But to make the most of the continued rally in stocks, it makes sense to focus on one subset that's predisposed to outperform the market averages. I'm talking about the "Rocket Stocks." Today, we're looking at five fresh Rocket names for a new week. 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 262 weeks, our weekly list of five plays has outperformed the S&P 500's record run by 79.66%. Without further ado, here's a look at this week's Rocket Stocks. Read More: 10 Stocks George Soros Is Buying