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Zacks #1 Stocks on the Move 06/18/2013

Company Name Symbol %Change
STAAR SURGIC STAA
10.98%
LUMOS NETWOR LMOS
5.70%
INSTEEL IND IIIN
5.28%
ERICKSON AIR EAC
5.10%
ASSURED GUAR AGO
4.98%
Zacks ZACKS.COM
PROFIT from the PROS

Tactics that Work in Good Markets and Bad
 
--

It Sure Feels Like a Breakout

Stocks have been consolidating around the old highs of 1370 for the better part of the last three weeks. On Tuesday they broke out to a post Great Recession high of 1396.

What was the catalyst?

First, we had solid economic reports out of Europe saying things might not be so bad over there. Next we got a robust Retail Sales report for February. This had shares pushing higher early in the session.

The cherry on top was the FOMC Meeting announcement where they Fed reiterated everything they have said in the past. And simply there is no need for more QE.

In past months, this lack of additional QE disappointed traders. This time around they understood it to mean that the US economy is improving enough that no more action is needed. Clearly, that is a very positive thing and reason to sprint to a new high.

Give yourself a big pat on the back if you have been riding this bull rally to new heights. And give yourself a big punch in the face, if you've been on the sidelines letting these hefty profits slip on by.

Featured Commentaries on Zacks.com
•  Stock Picking Ideas from Econ Reports
•  Parsing the Fed Statement

Best,

Steve Reitmeister (aka Reity... pronounced "Righty")
Executive VP, Zacks Investment Research

 

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Today's Top Stories: Wednesday- March 14, 2012

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Best,

Steve Reitmeister
Executive VP, Zacks Investment Research

p.s. What is the mission for Zacks Profit from the Pros? To find out how we will help you become a more successful investor, click here.

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Disclaimer: Past performance does not guarantee future results. Investors should always research companies and securities before making any investments. Nothing herein should be construed as an offer or solicitation to buy or sell any security.

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