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Best stocks to buy for the week ending Dec. 13, 2013: With many investors taking a guarded stance ahead of the Dec. 17-18 Federal Open Market Committee meeting, both the Dow Jones Industrial Average and S&P 500 Index slipped 1.7% last week, logging a second weekly decline.
It was the benchmarks' first back-to-back weekly loss in more than two months. The Nasdaq also dipped, ending the week with a 1.5% loss.
However, 2013 has been good to investors overall. Stocks are up some 24.5% year to date, and deals on Wall Street are getting harder to find. Indeed, only 48 stocks in the broad-based S&P are recently in the red, according to Bespoke Investments.
But you can always count on Money Morning to find the best bargains and the biggest opportunities to help you score maximum profit. Here's a recap of the best stocks to buy now that we shared with readers last week:
- Money Morning Defense & Tech Specialist Michael A. Robinson recently found inspiration for a brilliant stock pick while stringing up Christmas lights. Looking at the LED (light-emitting diode) lights he was hanging around his house, he contemplated the state-of-the-art technology they use, for which a massive potential market exists. Even beyond consumer applications, the auto industry, commercial buildings, and even billboards and streetlamps will one day use this technology, growing it into a billion-dollar-plus industry by the end of the decade. So light up your investment portfolio with Robinson's favorite play…
- Robinson also wrote about the blockbuster videogame market last week. Market research firm Gartner reports the global videogame market will hit $93 billion this year, an 18% increase from last year's $79 billion. And plenty of growth still lies ahead. Robinson revealed his top pick for the one gaming stock you have to own for potential big gains with limited downside risk. Robinson also detailed on FOX Business News why he thinks Amazon.com Inc. (Nasdaq: AMZN), which shipped more PlayStation 4's on release day than any gaming console in history, has more upside, too.