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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%
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Tactics that Work in Good Markets and Bad
 
--

Home on the Range

"Home, home on the range.
Where the bulls and the angry bears play.
When things get too high, its downward we slide.
And we get to do it day after day"

(Copyright 2011 from Reitmeister Productions ;-)

In case you haven't noticed we have been stuck in a 100 point range (1120-1220) on the S&P 500 since August 4th. Last Friday provided another rush to the top end of the range. And Monday we got flushed lower again. Simply there is not much to read into any movement within the range. The key is take notice when it breaks above or below.

My bet is that a break below the range is more likely to happen first. But certainly I would reconsider my bearish stance if we meaningfully broke above. Until that time, I will just keep playing the market's new "Home on the Range" theme song.

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Best,

Steve Reitmeister
Executive VP, Zacks Investment Research

 

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NEW ZACKS VIDEOS:

PeopleAndPicks.com:

VIP "SteveHarm" grabs some nice double digit needed returns with his BUY calls in (AKRX), (HANS) and (STMP). Read More...

EARNINGS PREVIEW Fed and Housing Coming into Focus

The economic data next week will mostly be focused on housing, but most eyes will be trained on the Fed and developments in Europe. Read More...

EARNINGS TRENDS: Outlook Murky, Valuations Compelling

Total net margins for 3Q are expected to rise to 9.60%, while excluding financials they are expected to drop to 8.94% Read More...

 

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Best,

Steve Reitmeister
Executive VP, Zacks Investment Research

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