We saw the major indices log the worst decline of 2013 to start this week, and the pain continued with declines Wednesday and Thursday as well.
Still, we’re still seeing very encouraging macro data — strong demand in the housing market, inflation that is handily under control, continued strength in retail sales … this week’s pain notwithstanding, it’s shaping up to be a pretty good year in 2013.
If you’re looking for a few recovery opportunities, here are five cheap stocks under $5 to consider: Advanced Semiconductor Engineering (NYSE:ASX), Navios Maritime Holdings (NYSE:NM), Frontier Communications (NASDAQ:FTR), Mizuho Financial Group (NYSE:MFG) and Mechel OAO (NYSE:MTL). All have risks, of course, but all could outperform considerably if the recovery gains momentum.
Just take care, since some of these issues trade on low volume. I strongly advise trading with limit orders to protect your purchase price on smaller stocks. And of course, do your own research and consider these picks for a small, aggressive role in your portfolio.
Here’s the rundown on these five cheap stocks: