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The Consolidation Dance

More and more this looks like a consolidation period with shares having a hard time getting above 1950. That is because stocks bolted higher Monday, but closed back at the mark. Then on Tuesday we saw the flipside with stocks tumbling in the am only to climb back to breakeven at the finish.

What a consolidation period tells you is that the market wants to stay with a bullish bias for the long haul. It's just time to take some profits off recent winners and rotate it to other stocks. This creates sideways action for the overall market even though there are some extreme winners and losers each day. Once this process is complete the broader market usually gets back on the upswing.

I find the best way to survive these periods is to ignore most of the whiplash effect from the daily movement of your stocks (i.e. don't read too much into the ups and downs). As long as the fundamentals are unchanged, then likely they will continue their upward trajectory once the consolidation period ends and new highs are generated.

It's also a great time to snap up some new picks on sharp, unnecessary dips. So be sure to build up a wish list of stocks you would love to own on any attractive pullback. Perhaps the articles below will help you discover some fresh ideas to help you profits in the days ahead.

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Steve Reitmeister (aka Reity...pronounced "Righty")

Executive Vice President

Zacks Investment Research

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Bull & Bear of the Day

Zacks Rank #1


This railcar leasing company is expecting another year of record earnings.


Zacks Rank #5

Express (EXPR)

Storm clouds are darkening over Express as sales remain weak.

Stock Picking Strategies

3 Asian Stocks to Buy Now  ››

Defense Stock Roundup  ››

Closing the Books on Q1 Earnings Season  ››

Funds Commentary

3 Telecom Funds to Buy as US Telecom Industry Evolves  ››

Two Biotech ETFs Surge on Idenix-Merck Deal  ››

Is It Time to Buy Top-Ranked Aluminum ETFs?  ››

Options Strategies

Delta is the Key to Options Profitability  ››

Video Reports

Hedge Market Exposure with These ETFs

Worried about a May market swoon? Try these inverse ETFs.

This Week's Growth & Income Stocks: (TROW) (GMT)

Growth & Income Stock Strategist, Todd Bunton, highlights T. Rowe Price (TROW) and GATX Corp (GMT) on May 6, 2014.

Why the Mixed Earnings Picture Isn't Enough?

The market's strong gains last year were in anticipation of an earnings turnaround, which has yet to materialize.

Earnings HQ

Today's Noteworthy Earnings Before the Bell:   ››  No Significant Releases. Check calendar for specifics.

Today's Noteworthy Earnings After the Bell:   ››  RHDDCHELISIGM

Get the First Calendar Made for Traders.

Visit the Zacks Earnings Calendar

Recent Earnings Winners

Company Symbol Reported Surprise %Price Chg
CHEROKEE INC CHKE Jun 10 +0.43% +12.11%
CHRISTOPHER & BANKS CORP CBK Jun 10 +0.07% +9.62%
MFRI INC MFRI Jun 10 +0.57% +7.01%

See All »

Best Earnings ESP Stocks  

Company Symbol Consensus
Accurate Est.
Reports Zacks Rank ESP
TRANSAT A T INC T.TRZ -0.37 -0.28 Jun 12 1 +24.32
SYNNEX CORP SNX 1.38 1.39 Jun 24 2 +0.72
LINDSAY CORP LNN 1.39 1.40 Jun 25 3 +0.72
BURLINGTON STRS BURL -0.08 -0.07 Jun 10 3 +12.50
IMPERIAL OIL-TS T.IMO 1.07 1.10 Jun 12 3 +2.80
Don't trade these stocks until you have read the Zacks ESP Guide ?


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