Higher stock prices. They won't last, but while they're climbing, they're tradable. That's the message for investors from Barry James.
His five-star James Balanced Golden Rainbow fund is up an average of 11.5 percent per year over the last five years, and even shows a modest gain year-to-date.
So which stocks are best equipped to ride the rally? James' list of criteria includes companies with good relative value, good earnings, solid price strength and strong sales overseas.
James likes Owens Illinois, with extensive plastic-production facilities around the world.
"We're probably looking at the sixth straight quarter of triple-digit earnings gains in the company," he told CNBC.
He also recommends rolled-steel producer Ampco Pittsburgh, which posted extremely strong earnings this week.
"Sales were up about 11 percent, operating income up about 15 percent," he noted.
James owns both Owens Illinois and Ampco Pittsburgh through his fund.