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I am an independent investor writing at Scott's Investments (http://www.scottsinvestments.com). My site is dedicated to discussing and publicly tracking historically successful investments strategies and sharing free investment resources. I emphasize empirical, historical, and quantitative... More
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  • Momentum Stocks to Watch This Week 0 comments
    Apr 24, 2011 9:20 PM | about stocks: ACAD, ADS, AEZS, AGQ, ALGN, BAS, BJRI, CKSW, COF, CPHD, CPX, CYOU, DCA, DPL, DRD, FMX, FXA, GNOM, GTU, HON, IXYS, MTZ, NEU, OGE, PENN, POOL, RGLD, RIC, SCSS, SIVR, SLM, SLV, SPPI, SUR, TZOO, UTEK, WBC
    Each week I publish stocks to watch for the upcoming week as potential momentum trades. The stocks below all have a 50k minimum average daily share volume and traded at a 52 week high on strong volume, with a minimum of 2 times relative volume on Thursday, April 21st. In addition, stocks were required to close Thursday higher than the open price.

    Last week's list of 27 stocks returned an average of 2.09% versus 1.32% for SPY.  Purchasing the entire list of stocks may not be feasible for individual investors. However, with this list we can identify stocks with high price momentum that may be viable short to intermediate term trading candidates. 

    This week we have 37 stocks and ETFs qualifying for the top momentum securities. There are a variety of industries on the list, with concentrations in gold and silver related stocks and ETFs.

    Complete Genomics (NASDAQ:GNOM), which was on the previous two week's list and returned  16.07% last week and 20.21% the previous week, remains on this week's list. The share price of GNOM has made a parabolic move in recent weeks and remains in overbought territory, which is no guaratee a pullback is imminent. In fact, at the end of last week GNOM was overbought but had another outstanding week:

     


    BJ's Restaurant (NASDAQ:BJRI) is another stock worth noting on this week's list.  The company reported earnings on April 20th, increasing revenue by 19% and net income by 65%, compared to the same quarter last year.  The stock closed the week strongly, $.01 below its daily high, which was also its 52 week high. 

    Based on positive revenue and earnings growth and strong technicals heading into this week, it is a buy candidate for the short-term. Look for the stock to potentially exhibit further strength this week:



    Finally, precious metals continue to show strength.  3 Exchange Traded Funds linked to Silver made this week's list. SLV is a popular ETF and seeks to track the price of silver, which continue to show strong price momentum.  SLV has made a parabolic move in recent weeks, similiar to the previous example of GNOM. At this time momentum remains on silver's side, but I would look for  a pullback soon, even if its to consolidate before moving higher:  Therefore, at current levels I would not be a purchaser of SLV in the short-term.



    Data and Chart Source:
     Finviz

    Ticker Company Industry Relative Volume Price Change
    ACAD ACADIA Pharmaceuticals, Inc. Biotechnology 4.96 2.24 2.28%
    ADS Alliance Data Systems Corporation Credit Services 2.94 90.25 3.83%
    AEZS AEterna Zentaris Inc. (NYSE:USA) Biotechnology 5.07 2.16 4.35%
    AGQ ProShares Ultra Silver Exchange Traded Fund 2.38 340.96 6.36%
    ALGN Align Technology Inc. Medical Appliances & Equipment 3.91 24.99 16.83%
    BAS Basic Energy Services, Inc. Oil & Gas Equipment & Services 2.19 29.85 7.14%
    BJRI BJ's Restaurants, Inc. Restaurants 2.95 46.56 7.16%
    CKSW ClickSoftware Technologies Ltd. Internet Software & Services 3.22 9.7 6.36%
    COF Capital One Financial Corp. Credit Services 2.15 53.26 5.40%
    CPHD Cepheid Scientific & Technical Instruments 3.54 31.46 2.44%
    CPX Complete Production Services, Inc. Oil & Gas Equipment & Services 2.8 33.62 3.83%
    CYOU Changyou.com Limited Multimedia & Graphics Software 3.67 39.78 5.07%
    DCA DCA Total Return Fund Closed-End Fund - Equity 2.6 3.94 2.60%
    DPL DPL Inc. Diversified Utilities 2.31 30.32 0.50%
    DROOY DRDGOLD Ltd. Gold 2.62 5.77 4.72%
    FMX Fomento Econ Beverages - Brewers 2.09 63.58 0.71%
    FXA CurrencyShares Australian Dollar Trust Exchange Traded Fund 6.84 107.79 0.62%
    GNOM Complete Genomics, Inc. Biotechnology 3.37 15.6 6.19%
    GTU Central GoldTrust Gold 2.27 58 1.45%
    HON Honeywell International Inc. Aerospace/Defense Products & Services 2.44 60.72 3.37%
    IXYS IXYS Corp. Semiconductor - Specialized 7.16 14.71 19.01%
    MTZ MasTec, Inc. Heavy Construction 2.99 22.59 5.56%
    NEU NewMarket Corp. Specialty Chemicals 5.71 179.52 15.12%
    OGE OGE Energy Corp. Electric Utilities 2.13 52.56 0.40%
    PENN Penn National Gaming Inc. Resorts & Casinos 4.25 39.98 7.07%
    POOL Pool Corp Sporting Goods 3.13 28.77 7.07%
    RGLD Royal Gold, Inc. Gold 2.2 60.2 3.21%
    RIC Richmont Mines Inc. Gold 4.41 9.01 3.09%
    SCSS Select Comfort Corporation Home Furnishings & Fixtures 8.77 17.29 30.29%
    SIVR ETFS Physical Silver Shares Exchange Traded Fund 2.95 46.44 3.22%
    SLM SLM Corporation Credit Services 3.96 16.31 12.79%
    SLV iShares Silver Trust Exchange Traded Fund 2.68 45.53 3.21%
    SPPI Spectrum Pharmaceuticals, Inc. Biotechnology 2.32 9.31 2.42%
    SUR CNA Surety Corp. Surety & Title Insurance 20.85 26.49 2.52%
    TZOO Travelzoo Inc. Internet Information Providers 5.91 94.22 27.55%
    UTEK Ultratech, Inc. Semiconductor Equipment & Materials 5.4 29.14 7.85%
    WBC WABCO Holdings Inc. Auto Parts 2.94 69.16 7.83%


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