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The rotation continues throughout the market as the NASDAQ has fallen out of favor today while other sectors involved in the Trump trade continue to flourish. Many investors feel like the market has already passed them by. They feel like the real money has already been made in this trade and it’s become entirely too crowded.
Fear not my friends, as this trade is far from over. While the days of being able to close your eyes and stumble upon a fantastic trade idea may be over, there are still countless trade opportunities opening up for us. In order to find them, I rely heavily on the Zacks Rank. By finding Zacks Rank #1 (Strong Buy) and Zacks Rank #2 (Buy) stocks with Momentum Style Scores of A or B I can uncover the next great trading opportunities. This week I’ve put together a list of five of these momentum stock ideas for you take a look at.
Chimera Investment Corporation operates as a real estate investment trust in the United States. The company, through its subsidiaries, invests in residential mortgage-backed securities (RMBS), residential mortgage loans, commercial mortgage loans, real estate-related securities, and various other asset classes.
Shares of CIM had a huge run from February’s lows to the early August high, surging from $11 to nearly $17 before selling off. The retracement from the August highs took the stock back to $14.70 before bidders came back in to prop up the stock in early October. From there the momentum has not stopped while the stock leapfrogged previous resistance and is now charging through to new highs.
Hawaiian Holdings
Hawaiian Holdings, Inc., through its subsidiary, Hawaiian Airlines, Inc., engages in the scheduled air transportation of passengers and cargo. It offers daily services on North America routes between the state of Hawai'i and Los Angeles, Oakland, Sacramento, San Diego, San Francisco, and San Jose, California; Las Vegas, Nevada; Phoenix, Arizona; Portland, Oregon; and Seattle, Washington. The company also provides daily services on its Neighbor Island routes among the six major islands of the State of Hawai'i; daily services on its international routes between the state of Hawai'i and Sydney, Australia; and Tokyo and Osaka, Japan.
HA stock struggled to push through the $50 after rallying from the $30s earlier in the year. This area served as resistance again in early October, sending shares back down to support just under $45. After a brief consolidation shares took off again and have since broken through to $58 late last week. I’m looking to either add shares on a pullback to $52.50 or buy a breakout of $58 should the stock rally again on solid volume.
HomeStreet, Inc., together with its subsidiaries, provides various financial services primarily in the Pacific Northwest, California, and Hawaii. The company operates in two segments, Commercial and Consumer Banking, and Mortgage Banking.
HMST stock has been gang busters since bouncing off a triple bottom base this summer in the high teens. The stock has more than doubled off that low and recently broke out through the $32 level. A huge volume day in early December may have washed out the weak longs. The stock is a shade overbought here so I think I’d be more comfortable waiting for a pullback before getting in long. The $29 level seems like a better entry.
Regions Financial Corporation, together with its subsidiaries, provides banking and bank-related services to individual and corporate customers in the United States. Its Corporate Bank segment offers commercial banking services, such as commercial and industrial, commercial real estate, and investor real estate lending, as well as equipment lease financing services. The company’s Consumer Bank segment provides consumer banking products and services related to residential first mortgages, home equity lines and loans, small business loans, indirect loans, consumer credit cards, and other consumer loans, as well as the corresponding deposit relationships.
RF caught fire early in the summer with shares near $8. From there it was a slow positive accumulation until the election. After the election, the Trump rotation greatly benefited smaller regional banks. This bank is in prime position to benefit from the President-elect’s policies. I’m waiting for a retracement to the $13 post-election consolidation bottom to add a position.
Tailored Brands
Tailored Brands, Inc. operates as a specialty apparel retailer in the United States, Puerto Rico, and Canada. The company operates in two segments, Retail and Corporate Apparel. The Retail segment offers suits, suit separates, sport coats, slacks, formalwear, business casual, sportswear, outerwear, dress shirts, dress pants, ties, shoes, and accessories for men in classic, modern, and slim fits in various sizes; and a selection of tuxedo rental products. It also offers women's career apparel, sportswear, shoes, and accessories; children's apparel; alteration services; and retail dry cleaning, laundry, and heirlooming services.
The owner of Men’s Warehouse and Jos A. Bank just caught a huge shot in the arm on earnings. The bottom end of the post-earnings candle just above $24 is a more reasonable entry. I’m afraid with that huge of a gap up that there will be sellers waiting to force is lower. There will be an epic battle at the top end of that gap between the bulls and bears with some great rewards for the winner.
Bottom Line
It’s easy to feel like you missed the boat when it comes to rallies like this. What you’ve got to realize is that there are great stock ideas that pop up every day. Stick to the fundamentals like finding Zacks Rank #1 (Strong Buy) and Zacks Rank #2 (Buy) stocks that are breaking out to new 52-week highs.
You are welcome to download the full, up-to-the-minute list of 220 Zacks Rank #1 "Strong Buy" stocks free of charge. There is no better place to start your own stock search. Plus you can access the full list of must-avoid Zacks Rank #5 "Strong Sells" and other private research. See the stocks free >>
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Five Runaway Momentum Stocks on the Move
The rotation continues throughout the market as the NASDAQ has fallen out of favor today while other sectors involved in the Trump trade continue to flourish. Many investors feel like the market has already passed them by. They feel like the real money has already been made in this trade and it’s become entirely too crowded.
Fear not my friends, as this trade is far from over. While the days of being able to close your eyes and stumble upon a fantastic trade idea may be over, there are still countless trade opportunities opening up for us. In order to find them, I rely heavily on the Zacks Rank. By finding Zacks Rank #1 (Strong Buy) and Zacks Rank #2 (Buy) stocks with Momentum Style Scores of A or B I can uncover the next great trading opportunities. This week I’ve put together a list of five of these momentum stock ideas for you take a look at.
Chimera Investments (CIM - Free Report)
Chimera Investment Corporation operates as a real estate investment trust in the United States. The company, through its subsidiaries, invests in residential mortgage-backed securities (RMBS), residential mortgage loans, commercial mortgage loans, real estate-related securities, and various other asset classes.
Shares of CIM had a huge run from February’s lows to the early August high, surging from $11 to nearly $17 before selling off. The retracement from the August highs took the stock back to $14.70 before bidders came back in to prop up the stock in early October. From there the momentum has not stopped while the stock leapfrogged previous resistance and is now charging through to new highs.
Hawaiian Holdings
Hawaiian Holdings, Inc., through its subsidiary, Hawaiian Airlines, Inc., engages in the scheduled air transportation of passengers and cargo. It offers daily services on North America routes between the state of Hawai'i and Los Angeles, Oakland, Sacramento, San Diego, San Francisco, and San Jose, California; Las Vegas, Nevada; Phoenix, Arizona; Portland, Oregon; and Seattle, Washington. The company also provides daily services on its Neighbor Island routes among the six major islands of the State of Hawai'i; daily services on its international routes between the state of Hawai'i and Sydney, Australia; and Tokyo and Osaka, Japan.
HA stock struggled to push through the $50 after rallying from the $30s earlier in the year. This area served as resistance again in early October, sending shares back down to support just under $45. After a brief consolidation shares took off again and have since broken through to $58 late last week. I’m looking to either add shares on a pullback to $52.50 or buy a breakout of $58 should the stock rally again on solid volume.
HomeStreet (HMST - Free Report)
HomeStreet, Inc., together with its subsidiaries, provides various financial services primarily in the Pacific Northwest, California, and Hawaii. The company operates in two segments, Commercial and Consumer Banking, and Mortgage Banking.
HMST stock has been gang busters since bouncing off a triple bottom base this summer in the high teens. The stock has more than doubled off that low and recently broke out through the $32 level. A huge volume day in early December may have washed out the weak longs. The stock is a shade overbought here so I think I’d be more comfortable waiting for a pullback before getting in long. The $29 level seems like a better entry.
Regions Financial (RF - Free Report)
Regions Financial Corporation, together with its subsidiaries, provides banking and bank-related services to individual and corporate customers in the United States. Its Corporate Bank segment offers commercial banking services, such as commercial and industrial, commercial real estate, and investor real estate lending, as well as equipment lease financing services. The company’s Consumer Bank segment provides consumer banking products and services related to residential first mortgages, home equity lines and loans, small business loans, indirect loans, consumer credit cards, and other consumer loans, as well as the corresponding deposit relationships.
RF caught fire early in the summer with shares near $8. From there it was a slow positive accumulation until the election. After the election, the Trump rotation greatly benefited smaller regional banks. This bank is in prime position to benefit from the President-elect’s policies. I’m waiting for a retracement to the $13 post-election consolidation bottom to add a position.
Tailored Brands
Tailored Brands, Inc. operates as a specialty apparel retailer in the United States, Puerto Rico, and Canada. The company operates in two segments, Retail and Corporate Apparel. The Retail segment offers suits, suit separates, sport coats, slacks, formalwear, business casual, sportswear, outerwear, dress shirts, dress pants, ties, shoes, and accessories for men in classic, modern, and slim fits in various sizes; and a selection of tuxedo rental products. It also offers women's career apparel, sportswear, shoes, and accessories; children's apparel; alteration services; and retail dry cleaning, laundry, and heirlooming services.
The owner of Men’s Warehouse and Jos A. Bank just caught a huge shot in the arm on earnings. The bottom end of the post-earnings candle just above $24 is a more reasonable entry. I’m afraid with that huge of a gap up that there will be sellers waiting to force is lower. There will be an epic battle at the top end of that gap between the bulls and bears with some great rewards for the winner.
Bottom Line
It’s easy to feel like you missed the boat when it comes to rallies like this. What you’ve got to realize is that there are great stock ideas that pop up every day. Stick to the fundamentals like finding Zacks Rank #1 (Strong Buy) and Zacks Rank #2 (Buy) stocks that are breaking out to new 52-week highs.
You are welcome to download the full, up-to-the-minute list of 220 Zacks Rank #1 "Strong Buy" stocks free of charge. There is no better place to start your own stock search. Plus you can access the full list of must-avoid Zacks Rank #5 "Strong Sells" and other private research. See the stocks free >>