CHICAGO, Aug. 17, 2011 /PRNewswire/ -- Stocks in this
week's article include: Heartland Payments (NYSE: HPY),
Lion's Gate (NYSE: LGF), Elizabeth Arden (NASDAQ: RDEN), Red Robin
Gourmet Burgers (NASDAQ: RRGB) and Quality Distribution
(NASDAQ: QLTY). Kevin Matras shows
the right way to find great growth stocks at an excellent
value.
(Logo: http://photos.prnewswire.com/prnh/20101027/ZIRLOGO)
Screen of the Week written by Kevin
Matras of Zacks Investment Research:
I know some are reluctant to buy stocks making new 52 weeks
highs. If you're one of them, have you ever asked yourself why?
If a stock is making a new 52-week high, that's a good thing.
Especially now.
I'm pretty sure that a person who dislikes buying stocks making
new 52-weeks highs wouldn't be too upset if the stock he already
owned broke out to new 52-week highs.
And why should he? Statistics have shown that stocks making new
highs have a tendency of making even higher highs.
These are the stocks we all dream about. Get in and it keeps
going up.
Of course the fundamentals need to be there. And you should keep
a watchful eye on valuations. But if you were in a stock making new
highs and cheering it on, it seems silly to be afraid of one doing
the same just because you haven't bought it.
One question I like asking myself just to put things into
perspective is: if I was in it, would I be excited and would I
still want to be in it? If the answer is yes, then I'll look for
the best opportunity to get in.
If the answer is no, that I'd want to take profits, then I'll
move on.
This topic actually reminds me of a question someone asked me a
while ago about a stock I was talking about that was at a new
52-week high. In fact, it was at a new 5 year high.
He said aren't you worried about buying a stocks at a 52-week
high? I said of course not. So it just made a new-52 week high.
That's great news. Guess what -- last year it made a new 52-week
high as well. And the year before that. And the year before
that.
Can you imagine all the money you'd be leaving on the table if
you were afraid of being in stocks every time they made a new
high?
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