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Zacks #1 Stocks on the Move 04/17/2014

Company Name Symbol %Change
DIXIE GRP IN DXYN
7.90%
GLOBAL EAGL ENT
6.72%
AGENUS INC AGEN
5.81%
TAOMEE HOLDI TAOM
5.22%
BOFI HLDG IN BOFI
4.97%

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ZACKS
Time to Sell the Bull Stampede?

Kevin Cook here for Steve...

What an amazing bounce the market just experienced after the "big" 6% correction. The bear camp just got hunted right back into their caves to finish hibernating. But have we come back too far, too fast?

I think so. I was looking for two realities to take hold after the breakdown below S&P 1750: (1) an acknowledgement among money managers and equity strategists that the bull had run a bit too far ahead of the economy and earnings, and (2) a "re-set" of investor expectations that buy-the-dips wouldn't be so easy this year.

We needed a tempering of risk appetite and a cleansing of easy-money margin trading. It might have been far healthier for this bull to wash-out the weak hands and let the strong ones slowly work the market back up from 1700. But that wasn't how Mr. Market played his hand.

And now that you're wondering if I'm ready to sell this market, here's the punchline...

I wouldn't sell this market with Buffett's money! This kind of strength means the pent-up demand of fund managers is still very hungry for risk in equities. What's in store now is most likely some sideways digestion of the bear feast. And that makes me a buyer of dips back to S&P 1820.

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Kevin Cook

Senior Stock Strategist

Zacks Investment Research

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Bull & Bear of the Day

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Paragon Shipping (PRGN)

The dry bulk shipping industry is making a comeback this year as shipping rates as measured by the Baltic Dry Index have been increasing.

 

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Best Buy (BBY)

Once a dominant player in the retail electronics space, Best Buy is struggling to shake off the stigma of being "Amazon's Showroom."


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After a terrible performance in 2013, the precious metal and miners are surging this year (GLD, GDX, GDXJ).

Earnings HQ

Today's Noteworthy Earnings Before the Bell:   ››  KOMDTDUKWMGPC

Today's Noteworthy Earnings After the Bell:   ››  ADICFFLRFLSACMP

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Visit the Zacks Earnings Calendar

Recent Earnings Winners

Company Symbol Reported Surprise %Price Chg
CRAY INC CRAY Feb 14 +1.43% +39.01%
FONAR CORP FONR Feb 14 +0.33% +25.14%
JUST ENERGY GROUP INC JE Feb 14 +0.87% +11.29%
BEL FUSE INC-A BELFA Feb 13 +0.63% +9.95%
ENVIROSTAR INC EVI Feb 14 +0.07% +8.19%

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WESTLAKE CHEM WLK 2.22 2.32 Feb 20 1 +4.50
SHIP FIN INTL SFL 0.19 0.29 Feb 24 1 +52.63
PROASSURANCE CP PRA 1.03 1.17 Feb 20 1 +13.59
TERNIUM SA-ADR TX 0.61 0.63 Feb 19 1 +3.28
ATHLON ENERGY ATHL 0.24 0.25 Feb 25 1 +4.17
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