As we enter the last month of the year, a look back shows fairly strong performances by the equity markets. The Dow Industrials Average is at a record high and is closing in on another psychological resistance point around 24,000. The broader S&P 500 Index is just shy of its all-time high, while the Nasdaq Composite, despite Wednesday's pullback, is also trading slightly off its closing high.
Stock picking in an overbought market is a tough assignment for even the most astute of the traders. For those looking to make money in an overbought market, Oppenheimer just released a list of 29 top picks.
All the identified top picks are rated Outperform. The healthcare sector, consisting of pharma, biotech, medical device and healthcare providers, had eight stocks in the top pick list, followed by industrial and business services and technology sectors, with six each.
Here's the list of stocks that Oppenheimer suggested for consideration.
Food, Grocery and Consumer Products
• Estee Lauder Companies Inc EL
Hardlines Retail and e-commerce
• Home Depot Inc HD
• Michael Kors Holdings Ltd KORS
• Jack in the Box Inc. JACK
Financial Institutions Group
• CIT Group Inc. CIT
• American Express Company AXP
• Agios Pharmaceuticals Inc AGIO
• Alexion Pharmaceuticals, Inc. ALXN
• Global Blood Therapeutics Inc GBT
• CymaBay Therapeutics Inc CBAY
• Evolent Health Inc EVH
• CIGNA Corporation CI
• Medtronic PLC MDT
• Vanda Pharmaceuticals Inc. VNDA
Industrials & Business Services
• XPO Logistics Inc XPO
• Canadian Solar Inc. CSIQ
• Johnson Controls International plc Ordinary Share JCI
• Xylem Inc XYL
• Acuity Brands, Inc. AYI
• Ferroglobe PLC GSM
• Twilio Inc TWLO
• FireEye Inc FEYE
• Activision Blizzard, Inc. ATVI
• FleetCor Technologies, Inc. FLT
• Apptio Inc APTI
• Broadcom Ltd AVGO
Telecommunication & Internet
• American Tower Corp AMT
• ANGI Homeservices Inc ANGI
• Priceline Group Inc PCLN
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