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Plus New Zacks Strong Buys for Friday, January 24
Kevin Matras   
Profit from the Pros
By Kevin Matras
Executive Vice President
Zacks Investment Research

Stocks Close Mostly Higher After Impressive Intraday Rebound

Stocks closed mostly higher yesterday after sharply rebounding off of their intraday lows.

Profit taking weighed on stocks early on. But buyers steadily came in, pushing the market back up.

And with such an impressive economy, it's easy to see why.

Not to mention an already strong start to earnings season.

Since stocks typically go up during earnings season, that's just adding to the market's excitement. And it's not uncommon to see individual stocks soar 10%, 15%, or even 20% or more in one day after an earnings report.

We'll get 57 stocks reporting earnings today. But then next week we'll get 586 stocks reporting earnings. And another 746 stocks the week after that.

As I said yesterday, it would not be out of the question to see a little bit of profit taking. I mean, we have been up 5-months in a row. But stocks could easily just continue to surge higher.

Either way, I would be a buyer on any dip. And I would be a buyer on strength.

Because it looks like there's a lot more upside to go.


Kevin Matras

Executive Vice President, Zacks Investment Research


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