Excerpt from Cabot Top Ten Report 5/12/08
By Michael Cintolo, Vice President of Investments and Editor, Cabot Market Letter and Cabot Top Ten Report A few weeks ago, we were optimistic that by this point the market would be in a full bore, all-out bull stampede. Instead, the market’s advance has turned into a choppy uptrend, especially among individual stocks and sectors, where a solid week or two of rising prices attracts profit-takers.
Nevertheless, the good shouldn’t be the enemy of the perfect—most stocks are heading higher, and while volatility is elevated, there are plenty of winners to go around. Just remember to keep your feet on the ground, take a few chips off the table if your stock soars for a few days, and to cut all losses short.
This week’s Top Ten contains a few names that are new to us, including one monster earnings winner last week. Our top pick is an oil service stock that is showing great price and volume action of late. It’s not as extended as some of its oil peers, but looks to be a great buy around here, or a little lower.
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