Shiller CAPE may be elevated and volatility may be low but recent economic data has been improving. This is now pointing to above trend GDP growth in the third quarter, bouncing back from the Winter snap. July and August are usually quiet months for trading and there lacks a catalyst for a downward turn.

As a result, I have cautiously increased my longs and made these stock market buys last week:

Toyota Motors $TM

Freeport McMoRan Copper & Gold $FCX

FutureFuel $FF

Intelliquent $IQNT

Diploma Plc $DPLM.L

Castings $CGS.L

Games Workshop $GAW.L

Tags: Picks, portfolio, stock market, stocks