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Mixed signals from the economic front are hampering the burgeoning bull market. Positive and negative news from the employment figures combined with General Motors bankruptcy sent ripples of uncertainty through the stock market despite an over all bullish posture.
Technically, the DJIA is currently bumping up against the critical 200-day SMA, having some difficulty breaking above. This is a confusing market, regardless of what happens, long term investors need tools to properly evaluate their existing portfolio and to choose new stocks to replace those that simply didn't perform.
Our Long Term PowerRatings serve both these purposes. This week's communities most requested list is filled with low rated, yet popular stocks across multiple sectors.
For those of you unfamiliar with our Long Term PowerRatings stock picking system, here is a brief synopsis: PowerRatings are based on a 13 year study of over 5 million trades across most market conditions and environments. Unlike other research of this type, we used statistically valid methods and every day is equally weighted. This means if a stock has earned a 10 rating, every day it has the 10 rating, its viewed one year ahead from that day not simply on the day it is awarded the rating. This makes Long Term PowerRatings a truly dynamic tool for choosing stocks and evaluating your long term portfolio.
Let's take a closer look at a few of the stocks our community have a close eye on:
Apple (AAPL | Quote | Chart | News | PowerRating) - This 5 Long Term PowerRated personal computer company is the number 1 most popular stock on our screener. Despite potential competition from the "pre" smart phone, Apple's iPhone still rules the smart phone space. They just announced over a billion downloads from the iPhone applications store in the last nine months alone clearing showing the superiority of this category crushing product. The first quarter of 2009 was stellar with record revenues and profits. Over 4 million iPhone's and more than 22 million iPod's were sold in the quarter representing 88% and 3% unit growth respectively. On the charts, price surged above both the 200 and 50-day SMA's breaking above resistance at $135.00/share.
Bristol Myers (BMI | Quote | Chart | News | PowerRating) - Another 5 rated stock hitting our most popular list this week. This drug company reported solid top line growth in the first quarter of 2009. Net Sales advanced by 3% and Diluted EPS surged by 23%. Combined with decreasing marketing and selling expenses lead to a strong performance over this time frame. They have several products moving up the approval pipeline and gave positive guidance into the rest of the year. On the chart, shares are trading above both the 50 and 200-day SMA's with an uptrend in place since March, 9th 2009. However, resistance appears around the $43.00/range.
Bank of America (BAC | Quote | Chart | News | PowerRating) - This 1 rated stock is the second most requested issue on the most requested screener. Its future is very uncertain with the massive issuing of $13.7 billion dollars of new stock to meet the stress test requirements. This firm is truly in the eye of the storm of the U.S. financial situation. An apropos name to hold such a position, in addition! Technically, price surged to $15.00/share but has dropped back appearing to have found support around $11.00/share.
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Learn what you need to know as an active investor looking to invest in companies with a history of financial strength and a track record for growth. Click the link above or call us at 888-484-8220 extension 1 to get your copy of the "5 Secrets to Successful Stock Investing" today!
David Goodboy is Vice President of Business Development for a New York City based multi-strategy fund.
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