BALTIMORE (Stockpickr) -- U.S. markets corrected last week, a move lower that was marked by a couple of particularly nasty sessions. The good news is that the selling wasn't as bad as it could have been. The S&P 500 shed only 1.39% between Monday's open and Friday's close.
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The bad news is that this doesn't look like the end of the selloff. Stocks are pointed lower again this morning, which is not completely unexpected -- they've been trading in a well-defined price channel for the better part of the last two years, and after hanging out near the top of their range, a retest of the bottom was par for the course.
In other words, we're still in a "buy-the-dips market," but patient investors need to wait for the dip.
So to position ourselves for upside, we're turning to a new set of "Rocket Stocks" that look ready for blastoff this 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 267 weeks, our weekly list of five plays has outperformed the S&P 500's record run by 80.32%.
Without further ado, here's a look at this week's Rocket Stocks.