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Momentum investing is one of the easiest to implement investment strategies. Historically the method has returned more than value investing or investing in small cap stocks. Momentum stocks are identified by looking at the stock's relative strength, that is the price performance of the stock relative to other stocks over the last year (e.g. outperforming the S&P 500), decreasing long term debt to equity ratios and a high ROE. The stocks on this list fit that description.

Starbucks Corp. (NASDAQ:SBUX) has a $35.48 billion market cap and a relative strength of 94. The company is trading at 29.4 times its earnings and has a PEG of 30.81. Starbucks has a ROE of 30.91% and a long-term debt to equity ratio of 0.13. In the last year, the company returned 50.06%. It recently traded at $47.03 a share. Donald Chiboucis' Columbus Circle Investors had $225.51 million invested in Starbucks at the end of the third quarter.

Celgene Corp. (NASDAQ:CELG) has a $32.49 billion market cap and a relative strength of 89. The company is trading at 30.67 times its earnings and has a PEG of 20.5. Celgene has a ROE of 20.79% and a long-term debt to equity ratio of 0.23. In the last year, the company returned 26.40%. It recently traded at $72.47 a share. David E. Shaw's D. E. Shaw had $68.37 million invested in Celgene at the end of September, after increasing its stake in the company by +379% during the third quarter.

BCE, Inc. (NYSE:BCE) has a $32.41 billion market cap and a relative strength of 81. The company is trading at 15.65 times its earnings and has a PEG of -3.08. BCE has a ROE of 16.57% and a long-term debt to equity ratio of 0.93. In the last year, the company returned 21.83%. It recently traded at $41.22 a share. Jim Simons' Renaissance Technologies has $18.53 million invested in BCE at the end of September after upping its stake in the company by +189% during the third quarter.

Biogen Idec, Inc. (NASDAQ:BIIB) has a $28.25 billion market cap and a relative strength of 97. The company is trading at 24.24 times its earnings and has a PEG of 19.19. Biogen Idec has a ROE of 20.84% and a long-term debt to equity ratio of 0.17. In the last year, the company returned 72.55%. It recently traded at $115.55 a share. Andreas Halvorsen's Viking Global had $235.61 million in Biogen Idec at the end of September after raising its position in the company by +82% during the third quarter.

Estee Lauder Companies, Inc. (NYSE:EL) has a $21.58 billion market cap and a relative strength of 91. The company is trading at 28.52 times its earnings and has a PEG of 49.1. Estee Lauder has a ROE of 34.30% and a long-term debt to equity ratio of 0.43. In the last year, the company returned 35.46%. It recently traded at $111.21 a share. Stephen Mandel's Lone Pine Capital had $161.23 million in Estee Lauder at the end of the third quarter.

Williams Partners LP (NYSE:WPZ) has a $18.30 billion market cap and a relative strength of 92. The company is trading at 18.62 times its earnings and has a PEG of 26.11. Williams Partners has a ROE of 19.66% and a long-term debt to equity ratio of 1.33. In the last year, the company returned 42.33%. It recently traded at $64.16 a share. Jean-Marie Eveillard's First Eagle Investment Management had $74.44 million in Williams Partners at the end of the third quarter.

Intuitive Surgical, Inc. (NASDAQ:ISRG) has a $17.86 billion market cap and a relative strength of 96. The company is trading at 39.57 times its earnings and has a PEG of 37.75. Intuitive has a ROE of 21.25% and a long-term debt to equity ratio of 0.00. In the last year, the company returned 62.34%. It recently traded at $456.98 a share. Jim Simons' Renaissance Technologies had $16.78 million in Intuitive at the end of the third quarter.

Disclosure: I have no positions in any stocks mentioned, and no plans to initiate any positions within the next 72 hours.

Source: 7 Stock Picks For The Momentum Investor