For Immediate Release
Chicago, IL – June 8, 2021 – Stocks in this week’s article are Select Bancorp Inc. (
SLCT Quick Quote SLCT - Free Report) , Veritiv Corporation ( VRTV Quick Quote VRTV - Free Report) , Townsquare Media Inc. ( TSQ Quick Quote TSQ - Free Report) , A-Mark Precious Metals Inc. ( AMRK Quick Quote AMRK - Free Report) and Titan Machinery Inc. ( TITN Quick Quote TITN - Free Report) . 5 Stocks with Recent Price Strength for a Strong Portfolio
The month of May was not as bad for equity investors as it had seemed due to a spike in volatility on market participants' anticipation of the impending inflation. The common adage of Wall Street — sell in May and go away — failed this year.
Major indexes like the Dow and the S&P 500 gained 1.9% and 0.6%, respectively. The small-cap-centric Russell 2000 inched up 0.1%. However, the teach-heavy Nasdaq Composite slid 1.5% on inflation concerns. Notably, the market's fear gauge — the CBOE VIX — dropped nearly 10% in May after skyrocketing 55.5% on May 13 from Apr 30.
We are in the sixth month of 2021 and Wall Street has maintained its northbound journey after finishing an astonishing 2020 despite being ravaged by the pandemic. Year to date, U.S. stock markets have suffered intermittent volatility due to several reasons like speculative trading practice by individual investors, who bought a few key heavily shorted stocks, soaring yields on sovereign bonds and growing expectations of inflationary concerns.
Despite the presence of volatile factors, the three major stock indexes — the Dow, the S&P 500 and the Nasdaq Composite — have rallied 12.8%, 11.9% and 6.7%, respectively, year to date. Moreover, the small-cap-specific Russell 2000 and S&P 600 have jumped 14.9% and 22.6%, respectively. The mid-cap-centric S&P 400 has climbed 18.2% in the same period.
This clearly indicates that the overall movement of Wall Street is northward so far in 2021 and the movement is broad-based. This scenario is likely to prevail in the near term also despite the fact that June is historically one of the weakest months on Wall Street.
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/1669227/5-stocks-with-recent-price-strength-for-a-strong-portfolio 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.
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Contact: Jim Giaquinto
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