Two Stocks That Pop
The market made a nice move higher yesterday, but the Russell 2000 small-cap index came up short of closing at the 600 level. Intraday, the index topped out at 597 around noon then trended sideways for the afternoon to close at 595. As I said yesterday, the longer the Russell 2000 stays below 600, the more likely it becomes that the psychologically important level will act as upward resistance.
But despite the pressure on the index, several small-cap stocks that we've been following here in Small Cap Investor Daily are moving higher. Lancaster Colony (Nasdaq: LANC), a company I first recommended on December 4th has risen 12.5% since I mentioned the stock in this newsletter.
And the stock has risen 2.2% since I gave you my take on Lancaster's earnings release on January 29th, despite a 2.1% decline in the Russell 2000 over the same period.
At that time I wrote, "Lancaster Colony won't knock your socks off, so feel free to sit back and relax while you read this. But the stock should be trading at least 10% higher, and could even rise as much as 28% in the next six months. That should be exciting to investors."
This stock should gain at least 8% more in the short-term, and as much as 26% more over the next six months. Let me know if you purchased shares of Lancaster, my address is: editorial@smallcapinvestor.com.
China North East Petroleum (AMEX: NEP) is another company I've been watching. We were given a great entry point on January 29 when the stock traded down to $7.82, close to its 50-day moving average. Let me know if you picked up shares of this company, those that did are now sitting on a nice 13.7% gain. I'm still expecting this stock will trade back up to its recent high above $10.00 so there's still at least another 12.5% to go before I'd be more cautious about buying shares.
And finally, I'm watching Houston American Energy (Nasdaq: HUSA) since I believe the exposure to Colombia's rapidly growing oil industry will help the stock. On Monday I said we're going to wait for the stock to pull back before jumping in. It's down 2% today but we need more of a drop before jumping into this stock.
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