Some indexes are starting to butt up against major overhead resistance (the 2,000 to 2,100 area on the S&P 500 has been a thorn in the market’s side for more than a year), and all indexes are still stuck below their longer-term 200-day lines. Overall, we remain neutral—if you see a good set-up, by all means take it, but we would hold off on flooring the accelerator until we see more breakouts and a longer-term uptrend in the general market.
This week’s list has a mix of stocks and sectors—some new, some old, some growth-oriented while others are turning around. Our Top Pick this week is Lumentum (LITE), which is enjoying a round of analyst upgrades on double-digit earnings growth.
This is an excerpt from Cabot Top Ten Trader, which features the best trades to make every week. Designed for experienced investors who want even more great growth stock ideas, this advisory recommends the best 10 stocks each month for short-term investment by aggressive growth investors.
Michael Cintolo is Cabot's Vice President of Investments and Chief Analyst of Cabot Growth Investor and Cabot Top Ten Trader. To read customer reviews of Cabot Top Ten Trader, click here. To read reviews of Cabot Growth Investor, click here.