Zacks.com featured expert Kevin Matras highlights: Universal Forest Products, Agco Corp., Chatham Lodging, Prudential Financial and DST Systems
CHICAGO, Oct. 24, 2013 /PRNewswire/ -- Stocks in this week's article include: Universal Forest Products (NASDAQ: UFPI – Free Report), Agco Corp. (NYSE: AGCO – Free Report), Chatham Lodging (NYSE: CLDT – Free Report), Prudential Financial (NYSE: PRU – Free Report) and DST Systems (NYSE: DST – Free Report). This week, Kevin Matras talks about stocks making new highs and why you shouldn't be afraid to buy them.
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.
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.
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?
The screen I'm running today looks for:
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