With the market going down over the last few weeks, I've been screening for stocks that are actually going up or at least not going down as much as the market.

I've talked about this kind of stuff in the past, but think about it: if somebody were to ask you what your best stocks are, your best stocks would be the ones moving up and your worst ones are the ones moving down.

Stocks moving higher have a tendency of moving even higher.

And the stocks I've been looking at recently are indeed the ones moving higher. Or at the very least, stocks with a relative price strength better than the market.

If stocks are performing better, it's likely because there's a good reason for them to be doing so. If not, they probably wouldn't be.

Of course, this doesn't mean you should only look at its price change.

But by including those kinds of things in your screening, some very interesting stocks will come up.

Some might just miss your normal fundamental screening. But when put on your radar screen thru other measures (its relative price performance), you might find that these are just the kinds of companies you've been looking for.

You'll notice too I said relative price strength. There are, of course, periods where virtually everything is going down. So screening for absolute positive price changes will often times come up with zero results in these periods, just when you need them the most.

But when the market is doing nothing but going up, you want to get into the pacesetters and outperformers, not the laggards that are going up only because the rising tide is lifting all the ships.

So using the relative price strength will always put the outperformers on your list in both good times and bad.

The screen I'm running today is looking for relative price change winners that also have the fundamentals to potentially make these gains continue.

The screen starts off with:

• Relative % Price change – 12 weeks greater than 0

• Relative % Price change – 4 weeks greater than 0

• Relative % Price change – 1 week greater than 0
  (I'm looking for stocks that are outperforming the S&P 500 over the last 12 weeks, 4 weeks and 1 week.)

• Projected Growth Rate (F1/F0) greater than the S&P 500's Median Growth Rate
  (Not only do I want the price to be responding better than the market; I also want the growth rate to be better than the market.)

• Current Price greater than or equal to 5
  (They all have to be trading at a minimum of $5 or higher.)

• Average 20-Day Volume greater than or equal to 100,000 shares
  (And have enough volume to allow easy trading in and out.)

Here are 5 stocks that made it thru this week's screen (for 8/2/11):

(DECK - Analyst Report) Deckers Outdoor Corporation
(TPX - Snapshot Report) Tempur-Pedic International Inc.
(HFC - Snapshot Report) HollyFrontier Corporation
(TDY - Snapshot Report) Teledyne Technologies Inc.
(CFX - Snapshot Report) Colfax Corporation

These are all fundamentally strong stocks that are on the move and outperforming the market.

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Disclosure: Officers, directors and/or employees of Zacks Investment Research may own or have sold short securities and/or hold long and/or short positions in options that are mentioned in this material. An affiliated investment advisory firm may own or have sold short securities and/or hold long and/or short positions in options that are mentioned in this material.

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