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Byline: JULIE HUYNH
The first quarter was bumpy for most investors as the market underwent a normal correction. But the pullback created opportunities for many extended quality stocks to form new bases and thus new breakouts.
At such times, it's a good idea to keep a list of stocks handy so that you're ready to buy when the market rises again.
The nation's top funds this year have been buying some basic materials stocks, such as carbon graphite maker GraphTech International, in their latest reporting periods.
Other fund favorites include retailers Urban Outfitters, Coach, Aeropostale and Foot Locker. Consumer electronics firm Harman International was bought by several big funds.
IBD found 29 leading funds grabbing GraphTech International, investing an estimated $66 million in the stock. Lord Abbett Small-Cap Value Fund added 1.6 million shares in its latest reporting period.
The Wilmington, Del.-based firm makes natural and synthetic graphite- and carbon-based products. It also offers energy solutions to customers worldwide.