This column was originally published on RealMoney on Feb. 7 at 11:10 a.m. EST. It's being republished as a bonus for TheStreet.com readers.It's a tough market, but there are still hundreds of stocks going up every day. I use a proprietary scan to uncover market leaders, and I post them on a customized watch list. Today I'll highlight the eight strongest members of this elite group so readers can fill their own lists with the best equities the market has to offer this month. Many of these stocks are tough to buy right now because they are overextended after powerful rallies. The best approach is put them on your list and wait to buy until they pull back to support.
Precious metals are hitting multiyear highs, and North American Palladium ( PAL) is a major beneficiary of this powerful uptrend. The stock is trading at a two-year high, but it's quickly approaching longer-term resistance at $14.52. The best trade on this one will come on a quick pullback to strong support above $9. Anadigics ( ANAD) has doubled over the last two months, but it still shows good upside. It started to pull back after reporting earnings Monday, but it should bounce soon. An entry at rising channel support near $5.80 would offer a low-risk position for a rally to key resistance over $9. Make sure to keep a stop-loss below the channel, just in case it breaks. Rediff.com ( REDF) is a momentum favorite that Jim Cramer spotlighted on Mad Money in late January. The stock reported solid earnings after that and has continued its vertical rise. You'll need a very strong stomach to play this volatile stock -- it's best left to market gunslingers and hard-core scalpers. Six Flags ( PKS) has been the subject of constant takeover rumors this winter. The chatter has lifted the amusement park operator to a three-year-year high, even though most of its operations are shut down for the season. While the chart shows upside to $15, the downside goes all the way to that $9.50 gap. I wouldn't touch this one until there's a deep pullback.
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