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Zacks #1 Stocks on the Move 05/20/2013

Company Name Symbol %Change
ORBOTECH LTD ORBK
10.86%
SONIC FOUNDR SOFO
9.45%
VIPSHOP HOLD VIPS
9.20%
RENEWABLE EN REGI
8.98%
EAGLE BULK S EGLE
7.84%
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Nothing to See Here

In the movies there are often scenes of accidents where some policeman is waving people to keep moving along by saying things like "Nothing to see here". Tuesday was deserving of this same narrative.

Yes, Consumer Confidence soared in the States. But since nothing new really happened in Europe, there was nothing to see here in terms of what the market will do next. And that saying will be apt the rest of the week even if we get served up impressive jobs reports. That's because Europe holds the keys.

Eurozone implosion = worldwide recession = US stocks tank

Eurozone problems contained = US economy continues to muddle through = US stocks head higher.

Unfortunately there is no clear winner in this derby. So we continue to wait for more signs.

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Best,

Steve Reitmeister
Executive VP, Zacks Investment Research

 

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