One natural inclination for investors during bull market runs is to avoid stocks that have been the largest percentage gainers. The logic is that they will be the first to roll over and trade down if there is a market correction.

Typically the stocks that do outperform exhibit strong relative strength. Relative strength is a “buy high, sell higher” strategy that assumes a stock with a price that has been rising will continue its upward trajectory. In a report out today, the equity strategists at UBS A.G. (NYSE: UBS) have eight stocks that fit this momentum category.

Embracing the fact that we are ready for the start of the annual NCAA College Basketball tournament, the UBS team has dubbed their list of stocks that will continue to outperform the “Elite Eight.” Despite the potential for rotation due to material outperformance, the UBS analysts continue to see scope for near-term upside for these stocks.

Leading of the list of Elite Eight stocks investors may want to buy is Allergan Inc. (NYSE: AGN). This multi-specialty health care company has a Thomson/First Call price target of $116.

Bermuda-based Assured Guaranty Ltd. (NYSE: AGO) provides credit protection products to public finance, infrastructure,and structured finance markets in the United States and internationally. Its Wall St. consensus price target is $21

Semiconductor chip equipment giant Applied Materials Inc. (NASDAQ: AMAT) may be the best value for investors on the list. It is still trading near multiyear lows, and the consensus price for this former tech high flyer is $14.38.

Another tech fallen angel, BlackBerry (NASDAQ: BBRY) is there for the brave investor. The consensus price target on the former Research In Motion is unavailable as analyst estimates are being recalculated.

Oil field service leader Halliburton Co. (NYSE: HAL) has had a strong move since bottoming out last summer. The consensus estimate for this industry giant is $48.

News Corp. (NASDAQ: NWSA), the owner of the Fox broadcasting networks and other media outlets, is a tantalizing buy, according to the report. The consensus price target is $33.

Phillips 66 (NYSE: PSX) is the refining spin-off from the former ConocoPhillips (NYSE: COP). As with most refiners, the stock has had a tremendous run since last summer’s low. The consensus estimate for this venerable name is $69.

The last stock to make the UBS Elite Eight list is another market leading refiner, Tesoro Corp. (NYSE: TSO). It is also riding a hot streak since last summer, and the consensus price target for Tesoro is $59.69.

The momentum investor is one that takes advantage of a continuing climb in the overall markets. We have reported at great length on the possible depth and strength to the current cyclical bull market run. Investors need to scan momentum stocks for the those that may best survive a quick, but brief market correction.

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