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Zacks #1 Stocks on the Move 05/17/2013

Company Name Symbol %Change
VIASAT INC VSAT
19.35%
OLD SECOND B OSBC
5.76%
GAMCO INVEST GBL
4.61%
CORNING INC GLW
4.47%
SYNCHRONOSS SNCR
4.23%
Zacks ZACKS.COM
PROFIT from the PROS

Tactics that Work in Good Markets and Bad
 
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Dear Subscribers,

Even with the modest, end of the month pullback, February saw gains of +3.2% for the S&P 500 index. That makes three straight months of solid gains. And going back six months we see that the S&P has rallied an impressive +26.5% in that stretch.

Certainly that begs the question; Where does the market go from here?

I expect range bound activity for a while with the recent highs (Dow 12,400) capping the upside and Dow 12,000 marking the bottom. Call it a trading range. Call it sideways action. Call it consolidation. Call it what you will, but I just think that stocks will have a hard time getting markedly above these recent highs until we get more proof of the quality of Q1 business activity. That won't come until earnings season starts up in early April. With all the profits in hand these last 6 months it's really hard to complain about a trading range period now.

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Best,

Steve Reitmeister
Executive VP, Zacks Investment Research

 

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Best,

Steve Reitmeister
Executive VP, Zacks Investment Research

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