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Zacks #1 Stocks on the Move 05/22/2013

Company Name Symbol %Change
SONIC FOUNDR SOFO
8.21%
ALLIANCE FIB AFOP
7.59%
NOAH HOLDING NOAH
7.15%
OILTANKING P OILT
4.13%
FLOWERS FOOD FLO
3.89%
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Friday's Gains DO NOT Equal Capitulation Rally

On Friday the market see-sawed back and forth. In fact, it was in the red 6 times until in the final hours it nudged out a modest gain.

Sorry friends, but that is not the typical signs of a capitulation rally. Generally that brings a strong, clear and large move to the upside. This was none of the above.

That means we will be battling over the low end of the range once again this week. Plenty of economic reports and events in Europe are on the slate which could push the market in either direction. I will stick my neck out once again and say the most likely outcome is a breakout to the downside. Hopefully you are prepared to profit from it.

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Steve Reitmeister
Executive VP, Zacks Investment Research

 

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