Attractive as nosebleed stocks can be (as investors pile on, hoping to ride the stock rocket to riches, boosting prices further as rapid rises occur), typically they can plummet earthward even faster once any flaw appears in the space bound trajectory scenario.

Nonetheless, in the short term, rapid growth assets can be lucrative. While the initially highest performing equities in the S&P 500 tend to be losers if held for a year, they can double the average return of that index if rebalanced monthly. So a tactic for the daring is to simply purchase that index's five stocks with the highest recent price advances, hold for about a month, then sell any that are no longer in the top five group, replacing them with new ones that qualify. There will, naturally, have been some that in recent weeks would have reached their zenith and started back down, yet, so the theory goes, on average the winners will offset those that are now on the wane.

I have tweaked the method a bit to come up with a less risky system. The revised candidate screen assets have momentum yet do not race up at speed of light rates. They also are less likely, though, to fall to Earth precipitously. So far, four out of four picks have been nicely profitable. However, this method is as yet experimental. One might attempt it at his or her own risk, preferably with money one can afford to do without.

1. Invest at a rate of one per week in up to 5 stocks meeting the below screener criteria, in each case buying shares of the one not already owned (if any) then closest in price to its 52-week price high among the screened candidates and which is neither a Chinese company nor possessing less than a net of two positive Commentary remarks by Motley Fool CAPS raters within the past year.

a. 3-month average daily shares volume: 500,000 or above;
b. Motley Fool CAPS rating: 4-5 CAPS;
c. Percent below 52-week high: 10% or less;
d. Motley Fool All-Star outperform picks: 25 or more;
e. Cash per share: $1.00 or more;
f. Current dividend yield: 2.50% or better.
g. (Optional) Invest in such an asset only if it also is recommended by one or more major investment or stock rating services as a good or excellent equity purchase.

Genuine Parts Company (GPC) as of this writing (2/19/19) meets the strategy requirements. In an announcement early on 2/19/19, GPC reported its 63rd consecutive year of increased dividends. GPC at recent prices is also cited as a good asset to purchase by one of the brokerages my wife and I use.

4. Hopefully repeat indefinitely & pocket profits.

5. If/when have losses after redemptions from a rebalancing, for the next 5 purchases invest the basic amount plus 1/5 the net amount of losses.

If interested, I hope the reader will have fun with this, play around with it to suit his or her own preferences, and maybe make a little money. With luck, it might even be a bit more rewarding than a weekend at the races or a casino.

-Allocate most of one's initial investment funds to 30% each in Vanguard's Health Care Fund (VGHCX) or exchange traded health care fund (VHT), Vanguard's S&P Small-Cap 600 ETF (VIOO), and the Guggenheim S&P 500 Equal Weight ETF (RSP);

-Allocate an initial 10% cushion of reserves to one of the Vanguard money market funds, for instance, Vanguard Federal Money Market Fund (VMFXX).

For each of the first three of those assets, invest initially, however, only when the mutual fund's or ETF's price is at least 7% below its 52-week high. (Currently that condition is met for VIOO alone among those three, so for the rest dollars would be left in the money market account till their prices also have dropped sufficiently, as they had temporarily done just this past December.) On average such drops typically occur at least annually. Once the indicated allocation is established for all four funds or ETFs, add to one's investments (in roughly the same allocations) with at least 5% of the beginning investment amount per year. (Thus, if investing $10,000 at first, $500 or more would be added within each 12-month period thereafter.) Subject to a minimum transaction threshold, rebalance to restore the intended (initial) allocations annually or when one or more of the equity assets falls or rises by at least 10% relative to its intended allocation level, whichever occurs first. (So, if for example VHT were to reach 33% or more, or fall to 27% or less, of the total portfolio, this would trigger a rebalance, unless it meant movement of funds below a requisite amount, say $500 for instance.) While nothing is certain about the future in investing, historically this approach if maintained for the long-term would have served one very well.