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Zacks #1 Stocks on the Move 05/17/2013

Company Name Symbol %Change
VIASAT INC VSAT
19.35%
OLD SECOND B OSBC
5.76%
GAMCO INVEST GBL
4.61%
CORNING INC GLW
4.47%
SYNCHRONOSS SNCR
4.23%
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Tactics that Work in Good Markets and Bad
 
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China Pushes Greek Fears Aside

Early last week Greek debt resurfaced as the #1 driver of stocks. By weeks end that problem was resolved (for now) and stocks moved back up to the old highs of 1370.

This week Chinese growth concerns bumped Greece out of top spot. This flare up is because of their worst trade deficit in 22 years. That certainly was bad news for economically sensitive and commodity related investments. Yet still the broader market indices stayed right at the key resistance levels.

Now what?

Yes, Chinese economic data is not as stellar as it used to be. But many investment strategists, including yours truly, believe that any real slowdown in China will be met with massive stimulus. That is why I do not fear ownership of commodity related stocks or those who benefit from exporting to China.

Because other investors are fearful of these stocks is why many are trading at a discount. And that is part of what makes them all the more attractive at this time.

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Best,

Steve Reitmeister (aka Reity... pronounced "Righty")
Executive VP, Zacks Investment Research

 

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