Dear Subscribers,

As noted yesterday, the bounce could start at any time. So perhaps the +3% move on Wednesday was the start of a new bull run. Or perhaps it was the start and the end all in one day. Personally I will need a bit more proof to believe in this move before I undo my current defensive posture. Pulling back to the big picture there is still a fundamental battle raging on. The bulls are no longer talking about a V shaped recovery. They admit that growth will not be that robust, yet the recent market downturn more than accounts for any amount of slowing. So time to rally in their book. The bears think we are the next Greece about to implode. They expect many more pounds of flesh to be paid by US equity holders. So "take profits while you can" is their mantra. It will be several months before these arguments are settled. So expect volatility and lack of clarity to be the norm.

Check out these top commentaries from Zacks.com:
•  Robust Retail?
•  Top 5 High Yield Funds
•  Zacks Rank Video: Aggressive Growth Stock Picks

Best,

Steve Reitmeister
Executive VP, Zacks Investment Research

Today's Top Stories: Thursday- July 08, 2010

ZACKS RANK BUY STOCKS

• Aggressive Growth - AmeriCredit Corp. (ACF) Zacks Consensus Estimate for fiscal 2010 jumped 28 cents, to $1.33. In the past month we have seen another 5 revisions, lifting the consensus another 3 cents. Rising estimates heading into a quarterly report is a great sign. Read More...
   
• Growth & Income - Cardinal Health (CAH) is expected to grow its EPS 10.6% over the next three to five years. The stock also offers investors a dividend yield of 2.3%. The stock trades at 15.4x fiscal year 2010 consensus EPS estimates. Read More...
   
• Momentum - Joy Global, Inc. (JOYG) second-quarter earnings came in well ahead of expectations at $1.15, 49% ahead of the Zacks Consensus Estimate. Joy Global's average earnings surprise over the last four quarters now stands at an impressive 26%. Read More...
   
• Value - Xyratex Limited (XRTX) is now trading with a forward P/E of just 3.1. That is cheap by any comparison but it is especially cheap compared to its peer group, which is trading at 12.5x. It's price-to-book ratio is just 1.3 and its price-to-sales ratio is only 0.3. Read More...
   

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

• Top 5 Growth Funds
  Get growth with State Farm Growth(STFGX), Goldman Sachs Growth Opportunities A(GGOAX), Marshall Mid-Cap Growth (MRMSX), T. Rowe Price Mid-Cap Growth (RPMGX) and USAA Capital Growth (USCGX). Read More...
  

See all the great mutual fund resources.

• Bull Of The Day: Lexmark International (LXK)
  Full Zacks research report: Read More...
  
  
• Bear Of The Day: Monsanto Company (MON)
  Full Zacks research report: Read More...
  
  
• ZACKS INDUSTRY OUTLOOK: Publishing Industry Review and Outlook - July 2010
  The circulation of newspapers was falling by less than 1%, but the rate of decline jumped to 2% in 2005, 3% in 2007 and 4% in 2008, with more and more readers migrating to the Internet. That said, we are favorable on (MNI) and (NYT). Read More...
  
  
• HSBC (HBC) Clients Under U.S. Tax Review
• China Fire (CFSG) Bags $10M Deal
• BOK Financial's (BOKF) Rating Affirmed

• Bank stocks ignite big rally @ CNNMoney.com
• Retail Winners: Netflix, Borders, Talbots @ TheStreet.com
• Depression Fears Begin to Take Hold @ MAINSTREET.com
• Fmr. Shell Oil Pres. on BP's Assets @ FOXBUSINESS.com
• Get a Jump on Retirement @ Kiplinger.com

EDUCATION: Growth and Income

The Power of Dividend Yields Read More...

PeopleAndPicks.com:

VIP "smallstk" is minimizing loss and takes a little profit with BUY calls in (HLF), (RBCN) and (RCI). Read More...

• Extreme Portfolio Makeover
• Aggressive Growth Stock Picks-July 7, 2010
• Value Stock Picks-July 6, 2010

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Best,

Steve Reitmeister
Executive VP, Zacks Investment Research

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