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

Company Name Symbol %Change
SONIC FOUNDR SOFO
4.69%
SUMITOMO MIT SMFG
3.61%
VANTIV INC VNTV
3.21%
NIPPON TELEG NTT
3.03%
TOKIO MARINE TKOMY
2.99%
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Melt Up Continues

In my Reitmeister Trading Alert commentary on Friday I said:

"Looking ahead to next week the economic calendar is super light... So there likely is not a new positive catalyst next week. Hopefully the strong news from the recent past is good enough to have more investors get on the bandwagon allowing the melt up to continue into earnings season."

And that is exactly what was on tap as stocks stayed above 1400 for the 3rd straight session. This helps increase the odds that 1400 now provides solid support for the next leg higher.

Housing Starts and a Bernanke speech are on tap for Tuesday. Let's see if they provide the right impetus for the Melt Up to continue.

Featured Commentaries on Zacks.com
•  Roundtable Top Picks for the Week of March 19th
•  March Mania in the Market?

Best,

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

 

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NEW ZACKS VIDEOS:

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VIP "horsedentist" continues his profitable screens with BUY calls in (BAC), (CAB), (TEL) and (TPCG). Read More...

EARNINGS PREVIEW Much Ado About Housing

Not a lot of earnings due this week, and the economic data is all focused on the housing market. Read More...

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Best,

Steve Reitmeister
Executive VP, Zacks Investment Research

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