The Pattern Continues

Again, stocks dipped into the red on Wednesday. And again, that move was rejected by the end of the day. This continues to tell me that there is an upward bias to stocks as people want to buy on every dip. But it also tells me that there needs to be a little more of a catalyst to get us to on our way. The most likely candidate continues to be a resolution to the Greek bailout.

That took a little turn for the worse which was the cause for stocks dipping into the red. That does not mean a deal won't go through. It's just that the process is anything but smooth and straight forward. The Greeks keep asking for more concessions. Then they get concessions which then need to be approved by their coalition government. And each time one of the parties asks for more concessions for the deal to go through. Rinse and repeat.

I sense they are just haggling over final details like one does at a car dealership. Gladly neither party is leaving the table. So I bet a deal still gets done. And when it does, expect stock markets on both sides of the Atlantic to continue to push higher.

Now some words of wisdom from our very own Kevin Matras:

"Whether you're bullish on the market or bearish; whether you believe the top is in, or not even close; it's now more important than ever to make sure you're doing everything you can to get the most out of your trades... Read More"

Best,

Steve Reitmeister
Executive VP, Zacks Investment Research

Today's Top Stories: Thursday- February 09, 2012

ZACKS RANK BUY STOCKS

• Aggressive Growth - Liquidity Services (LQDT) reported revenue of $106 million up from $79 million in the year ago period. In addition, earnings per share came in at $0.32 up from $0.13 posted a year ago. Read More...
   
• Growth & Income - The Fastenal Company (FAST) Zacks Consensus Estimate for 2012 is now $1.46, representing 21% growth over 2011 EPS. The 2013 consensus estimate is currently $1.74, corresponding with 19% growth. Read More...
   
• Momentum - Extra Space Storage, Inc. (EXR) expectations are to generate $0.32 in income this quarter. The consensus is for the company to grow earnings by 23% in the current year and roughly 15% in FY2012. Read More...
   
• Value - Western Digital Corporation (WDC) has a price-to-book ratio of 1.5. A P/B under 3.0 usually indicates "value." WDC also scores well with its the price-to-sales ratio of just 0.97. A P/S less than 1.0 can mean undervalued. Read More...
   

Learn how to profit from our exclusive Zacks Rank stock-ranking system with free resources. Read More...

• Top 5 Zacks #1 Ranked Energy Mutual Funds Read More...
• Mutual Fund Homepage

• Bull Of The Day: Amgen, Inc.
  Full Zacks research report: Read More...
  
  
• Bear Of The Day: Montpelier Re Holdings
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• Ahead of Wall Street
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• Zacks Industry Outlook: Oil & Gas Stock Outlook - Feb. 2012
  Crude oil's near-term fundamentals remain mixed, to say the least. Shale gas is a quiet revolution that has been reshaping the energy business. Read More...
  
  
• Analyst Blog Highlights
• Alcoa to Review Australian Smelter
• BP to Divest LPG Filing Biz
• Goldman Sets to Acquire Dwight
• Full Analyst Blog

• Are Portfolio Managers Irrational?
• Growth & Income Stock Picks-Feb.8, 2012
• Explosive Stocks Under $10

PeopleAndPicks.com:

Player "inthemoneystocks" cautions the recent market. "Nearly everyday we see the same pattern repeat over and over. Traders must remember the old market adage that states, never short a dull market." Read More...

• Stocks inch higher as Greece remains in focus @ CNNMoney.com
• Cisco Beats on Earnings, Raises Dividend @ TheStreet.com
• Groupon Reveals 4Q Earnings Dud @ FOXBUSINESS.com
• Independents seen dominating US refining industry @ MarketWatch.com

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