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Zacks #1 Stocks on the Move 06/19/2013

Company Name Symbol %Change
SONIC FOUNDR SOFO
4.40%
SUPPORTCOM I SPRT
3.75%
UNISYS CORP UIS
3.31%
SHORETEL INC SHOR
3.22%
GREEN MOUNTA GMCR
3.13%
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PROFIT from the PROS

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Dear Subscribers,

Yesterday I was calling for a bounce soon as the "Reitmeister Panicked Selling Index" was sounding off. And stocks did bounce mid-day Tuesday after plummeting down towards the 50 day moving averages for the major indexes. This provided much needed support from which stocks headed higher. But I wouldn't really call it a profitable bounce quite yet. We need to extend higher from here.

Will it happen? Fundamentally I think the answer is yes as the economy is expanding, corporate earnings are on the rise and stock valuations are quite reasonable (even more reasonable after this pullback). Unfortunately not everyone is basing their decisions on these fundamentals. So I continue to brace myself for a volatile summer yet expect to emerge from this period on the way to new highs.

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Steve Reitmeister
Executive VP, Zacks Investment Research

 

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Best,

Steve Reitmeister
Executive VP, Zacks Investment Research

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