The big challenge of this market right now isn't timing market direction. The big challenge is finding the stocks that are moving in a fairly flat tape. It is easy to assume that it is dead, when the indices have made significant moves in many weeks, but that is not the case. There have been fantastic money-making opportunities, if you have stayed focused on individual stock picking.
I've mentioned a number of Stocks of the Week repeatedly, because they have been huge winners. Acacia Communications (ACIA) , for example, was a pick on May 23 at $30. Today it is hitting $73.50, as traders await the earnings report tonight. A gain of 145% in less than three months is luck, to some degree. But if we work hard at digging for these names, which aren't all that well known, they can work well.
Here are a few others that have worked very well:
--TPI Composites (TPIC) , mentioned yesterday, is up 7% today.
--Yirendai (YRD) , Stock of the Week on Jul. 5 at $14.55, is now up 111%.
--Silver Standard Resources (SSRI) , Stock of the Week on Apr. 11 at $6.48, is now up 140%.
--Silver Wheaton (SLW) , Stock of the Week on Jun. 6 at $20.45, is up 52%.
--Teck Resources (TCK) , Stock of the Week on Jun. 20 at $12.48, is now up 32%.
The point here (other than a little self-congratulation), is that this has been a market for stock picking, rather than directional calls in the indices. The way to really beat this market is to look for these smaller stocks that can really build some momentum.
Today, one of my new picks is Quotient Technology (QUOT) . Take a look at this chart to see why I like it. What is key, here, is that it has the potential for a good size move once it breaks the existing range.
