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

Company Name Symbol %Change
ALLIANCE FIB AFOP
9.31%
SONIC FOUNDR SOFO
7.77%
VELTI PLC OR VELT
7.58%
TRI TECH HOL TRIT
6.62%
A M R CP AAMRQ
4.52%
Zacks ZACKS.COM
PROFIT from the PROS

Tactics that Work in Good Markets and Bad
 
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I See a Pattern Forming

Tuesday repeated a similar pattern as Monday. That being where the day starts solidly in the red. Then bit by bit stocks fight their way back. Monday that resulted in a near breakeven finish. Whereas Tuesday was slightly in positive territory.

What does it mean?

I see a couple things emerging. First, is that the basically breakeven finishes mean that the market is looking for a catalyst to make its next major move. Second, the bias is slightly to the upside because investors are seeing the early sell offs as buying opportunities. Given that the rest of the week is pretty light on expected economic news means this pattern may repeat again.

So where will the next catalyst come from?

Again, I would look to Europe. A finalized Greek debt deal would be nice. And further receding of bond rates in Italy and Spain would be a plus too. Let’s keep our eyes fixed on these things to give us a tell of what happens next.


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Steve Reitmeister
Executive VP, Zacks Investment Research

 

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Best,

Steve Reitmeister
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