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Zacks.com featured highlights include: Hibbett Sports, BMC Stock Holdings, Mr. Cooper Group, Barrick Gold and Nautilus
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For Immediate Release
Chicago, IL – September 14, 2020 – Stocks in this week’s article are Hibbett Sports Inc. (HIBB - Free Report) , BMC Stock Holdings Inc. , Mr. Cooper Group Inc. (COOP - Free Report) , Barrick Gold Corp. (GOLD - Free Report) and Nautilus Inc. .
5 Stocks with Recent Price Strength Despite Market Turmoil
After witnessing an astonishing rally for more than five months in a row, Wall Street suffered a major blow on Sep 3. Markets rebounded on Sep 9, after facing a terrible pull down in the last three trading days. These were the worst-performing days in a row since April. However, all the three major stock indexes — the Dow, the S&P 500 and the Nasdaq Composite — plunged again on Sep 10 after a choppy trading session.
This clearly shows that volatility has set in Wall Street at least for the short-term. Historically, September is known as the worst-performing month in Wall Street. Investors started panicking that the coronavirus-defying rally would terminate this month.
The volatility may persist for a few more days as a section of economists and financial experts have already warned that larger corrections are in the offing. However, a closer look at the past five days' trading pattern clearly reveals that it was profit booking and not any major economic, financial or political factor that led to the meltdown.
The technology sector pulled down the overall market after being the predominant driver of the impressive showing over the last five months. It was technology that had helped Wall Street in exiting a coronavirus-induced short bear market and form a new bull market. However, in the due course of market's V-shaped recovery from its recent trough on Mar 23, technology stocks got overvalued.
At this stage, wouldn’t it be a safer strategy to look for stocks that are winners and have the potential to gain further?
Sounds Good? Here’s How to Execute It:
One should primarily target stocks that have freshly been on a bull run. Actually, stocks seeing price strength recently have a high chance of carrying the momentum forward.
If a stock is continuously witnessing an uptrend, there must be a solid reason or else it would have probably crashed. So, looking at stocks that are capable of beating the benchmark that they have set for themselves seems rational.
However, recent price strength alone cannot create magic. Therefore, you need to set other relevant parameters to create a successful investment strategy.
Here’s how you should create the screen to shortlist the current as well as the potential winners.
Disclosure: Officers, directors and/or employees of Zacks Investment Research may own or have sold short securities and/or hold long and/or short positions in options that are mentioned in this material. An affiliated investment advisory firm may own or have sold short securities and/or hold long and/or short positions in options that are mentioned in this material.
About Screen of the Week
Zacks.com created the first and best screening system on the web earning the distinction as the "#1 site for screening stocks" by Money Magazine. But powerful screening tools is just the start. That is why Zacks created the Screen of the Week to highlight profitable stock picking strategies that investors can actively use.
Strong Stocks that Should Be in the News
Many are little publicized and fly under the Wall Street radar. They're virtually unknown to the general public. Yet today's 220 Zacks Rank #1 "Strong Buys" were generated by the stock-picking system that has more than doubled the market from 1988 through 2016. Its average gain has been a stellar +25% per year. See these high-potential stocks free >>.
Zacks Investment Research is under common control with affiliated entities (including a broker-dealer and an investment adviser), which may engage in transactions involving the foregoing securities for the clients of such affiliates.
Zacks.com provides investment resources and informs you of these resources, which you may choose to use in making your own investment decisions. Zacks is providing information on this resource to you subject to the Zacks "Terms and Conditions of Service" disclaimer. www.zacks.com/disclaimer.
Past performance is no guarantee of future results. Inherent in any investment is the potential for loss. This material is being provided for informational purposes only and nothing herein constitutes investment, legal, accounting or tax advice, or a recommendation to buy, sell or hold a security. No recommendation or advice is being given as to whether any investment is suitable for a particular investor. It should not be assumed that any investments in securities, companies, sectors or markets identified and described were or will be profitable. All information is current as of the date of herein and is subject to change without notice. Any views or opinions expressed may not reflect those of the firm as a whole. Zacks Investment Research does not engage in investment banking, market making or asset management activities of any securities. These returns are from hypothetical portfolios consisting of stocks with Zacks Rank = 1 that were rebalanced monthly with zero transaction costs. These are not the returns of actual portfolios of stocks. The S&P 500 is an unmanaged index. Visit https://www.zacks.com/performance for information about the performance numbers displayed in this press release.
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Zacks.com featured highlights include: Hibbett Sports, BMC Stock Holdings, Mr. Cooper Group, Barrick Gold and Nautilus
For Immediate Release
Chicago, IL – September 14, 2020 – Stocks in this week’s article are Hibbett Sports Inc. (HIBB - Free Report) , BMC Stock Holdings Inc. , Mr. Cooper Group Inc. (COOP - Free Report) , Barrick Gold Corp. (GOLD - Free Report) and Nautilus Inc. .
5 Stocks with Recent Price Strength Despite Market Turmoil
After witnessing an astonishing rally for more than five months in a row, Wall Street suffered a major blow on Sep 3. Markets rebounded on Sep 9, after facing a terrible pull down in the last three trading days. These were the worst-performing days in a row since April. However, all the three major stock indexes — the Dow, the S&P 500 and the Nasdaq Composite — plunged again on Sep 10 after a choppy trading session.
This clearly shows that volatility has set in Wall Street at least for the short-term. Historically, September is known as the worst-performing month in Wall Street. Investors started panicking that the coronavirus-defying rally would terminate this month.
The volatility may persist for a few more days as a section of economists and financial experts have already warned that larger corrections are in the offing. However, a closer look at the past five days' trading pattern clearly reveals that it was profit booking and not any major economic, financial or political factor that led to the meltdown.
The technology sector pulled down the overall market after being the predominant driver of the impressive showing over the last five months. It was technology that had helped Wall Street in exiting a coronavirus-induced short bear market and form a new bull market. However, in the due course of market's V-shaped recovery from its recent trough on Mar 23, technology stocks got overvalued.
At this stage, wouldn’t it be a safer strategy to look for stocks that are winners and have the potential to gain further?
Sounds Good? Here’s How to Execute It:
One should primarily target stocks that have freshly been on a bull run. Actually, stocks seeing price strength recently have a high chance of carrying the momentum forward.
If a stock is continuously witnessing an uptrend, there must be a solid reason or else it would have probably crashed. So, looking at stocks that are capable of beating the benchmark that they have set for themselves seems rational.
However, recent price strength alone cannot create magic. Therefore, you need to set other relevant parameters to create a successful investment strategy.
Here’s how you should create the screen to shortlist the current as well as the potential winners.
For the rest of this Screen of the Week article please visit Zacks.com at: https://www.zacks.com/stock/news/1056855/5-stocks-with-recent-price-strength-despite-market-turmoil
Disclosure: Officers, directors and/or employees of Zacks Investment Research may own or have sold short securities and/or hold long and/or short positions in options that are mentioned in this material. An affiliated investment advisory firm may own or have sold short securities and/or hold long and/or short positions in options that are mentioned in this material.
About Screen of the Week
Zacks.com created the first and best screening system on the web earning the distinction as the "#1 site for screening stocks" by Money Magazine. But powerful screening tools is just the start. That is why Zacks created the Screen of the Week to highlight profitable stock picking strategies that investors can actively use.
Strong Stocks that Should Be in the News
Many are little publicized and fly under the Wall Street radar. They're virtually unknown to the general public. Yet today's 220 Zacks Rank #1 "Strong Buys" were generated by the stock-picking system that has more than doubled the market from 1988 through 2016. Its average gain has been a stellar +25% per year. See these high-potential stocks free >>.
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Zacks Investment Research is under common control with affiliated entities (including a broker-dealer and an investment adviser), which may engage in transactions involving the foregoing securities for the clients of such affiliates.
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Visit: www.Zacks.com
Zacks.com provides investment resources and informs you of these resources, which you may choose to use in making your own investment decisions. Zacks is providing information on this resource to you subject to the Zacks "Terms and Conditions of Service" disclaimer. www.zacks.com/disclaimer.
Past performance is no guarantee of future results. Inherent in any investment is the potential for loss. This material is being provided for informational purposes only and nothing herein constitutes investment, legal, accounting or tax advice, or a recommendation to buy, sell or hold a security. No recommendation or advice is being given as to whether any investment is suitable for a particular investor. It should not be assumed that any investments in securities, companies, sectors or markets identified and described were or will be profitable. All information is current as of the date of herein and is subject to change without notice. Any views or opinions expressed may not reflect those of the firm as a whole. Zacks Investment Research does not engage in investment banking, market making or asset management activities of any securities. These returns are from hypothetical portfolios consisting of stocks with Zacks Rank = 1 that were rebalanced monthly with zero transaction costs. These are not the returns of actual portfolios of stocks. The S&P 500 is an unmanaged index. Visit https://www.zacks.com/performance for information about the performance numbers displayed in this press release.