Top 50: 6 of Colorado’s largest companies are hot

Six of Colorado’s largest companies are so fundamentally strong in terms of earnings growth and buying by institutional investors that they’ve become hot momentum stocks, according to Investor’s Business Daily (IBD).

Three of the state’s Top 50 made it on to the IBD 100 list, which is available at http://www.investors.com. Whiting Petroleum (WLL), Denver, Colorado’s 27th largest company, is the 48th hottest stock in the market. St. Mary Land & Exploration (SM), Denver, the state’s 19th largest company, is the 60th hottest stock, up from 79th last week. And Cimarex Energy (XEC), Denver, the 16th largest Colorado-based stock, ranks 67th on the IBD 100. Whiting and Cimarex weren’t on the list last week. I posted a review of SM on May 4.

Another Colorado-based energy company, Forest Oil (FST), Denver, and Woodward Governor (WGOV), Fort Collins,  made IBD’s list of fundamentally strong stocks that are gaining momentum and are worth “Your Weekly Review.”  FST is the 17th largest Colorado-based company and WGOV ranks 12th in the state.

Molson Coors Brewing (TAP), Denver, the state’s fourth largest company, made IBD’s list of “Weekly Stocks on the Move.”

Daily charts for these Colorado-based momentum stocks are here. Click on a chart to see weekly and point and figure charts. The stocks’ point and figure charts all have bullish price objectives.

Full disclosure: I do not have positions in any of the stocks mentioned here.

For educational purposes only. Investigate before you speculate.

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