Summer doldrums? What summer doldrums?
U.S. markets are holding onto high ground as we push into the summer months. The big S&P 500 index is a mere 0.2% shy of all-time highs hit intraday on Friday. Since the financial crisis of 2008, only two other years have brought on new all-time highs for the S&P 500 in the month of May: 2013 and 2014. In both of those years, the remaining months of the calendar year have handed investors double-digit returns on a total returns basis.
In 2017, it makes sense to figure out which stocks look best-positioned to outperform in that sort of environment. To do that, we're turning to a fresh set of "Rocket Stocks" worth buying this week.
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 401 weeks, our weekly list of plays has outperformed the S&P 500's record-breaking run by 79.47%.
Meanwhile, Jim Cramer talks about oversold retail stocks on Real Money. Get his insights or analysis with a free trial subscription to Real Money.
So, without further ado, here's a look at this week's Rocket Stocks.