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Yesterday's sell-off helped extend pullbacks in a number of Nasdaq stocks. Here is a look at five such stocks, all with the sort of high Short Term PowerRatings that make them likely to outperform the average stock over the next few days.
Whatever method you use to find stocks that will be suitable for short term trading - be they swing trading methods or breakout strategies - our Short Term PowerRatings can serve as an effective "final filter" to help make sure that you are always trading the stocks with the highest likelihood of beating the average stock.
How does this final filtering work? The next time you prepare your list of potential stock trades, visit TradingMarkets.com and enter the stock symbols of those stocks into our Short Term PowerRatings window at the upper right hand corner of the home page.
What you are looking for are the stocks in your list that have the highest Short Term PowerRatings. Our Short Term PowerRatings run from 1 to 10, with 1 being the value assigned to stocks that are most likely to disappoint or underperform the average stock in the short term, and 10 being the value given to stocks that are most likely to impress, outperforming the average stock by a wide margin. This is based on our historical testing of millions of short term, simulated stock trades from 1995 to 2007.
Just how impressive were the stocks that received high Short Term PowerRatings? We found that stocks that had our highest Short Term PowerRating of 10 tended to outperform the average stock by a margin of nearly 17 to 1 after five days.
Imagine the advantage of being able to further screen your stocks for those that have the greatest chance to move higher in the short term. Whatever method you use for selecting stocks for potential trades, adding our Short Term PowerRatings to your selection process will provide you with that much greater of an edge. This is to say nothing of helping you avoid those trades that we all get: stocks that have good set-ups, but nothing else to distinguish them from the set-ups that look good, but ultimately do not result in winning trades
All five stocks in today's report have Short Term PowerRatings of 8 or 9. Our research indicates that stocks with Short Term PowerRatings of 8 have outperformed the average stock by a margin of more than 8 to 1 after five days. Stocks with Short Term PowerRatings of 9 performed even better, besting the average stock by a margin of more than 13 to 1 over the same short term time frame.
Pericom Semiconductor Corporation (PSEM | Quote | Chart | News | PowerRating) Short Term PowerRating 9. RSI(2):
FC Stone Group Inc.(FCSX | Quote | Chart | News | PowerRating) Short Term PowerRating 9. RSI(2):
Chindex International(CHDX | Quote | Chart | News | PowerRating) Short Term PowerRating 9. RSI(2):
Apogee Enterprises(APOG | Quote | Chart | News | PowerRating) Short Term PowerRating 9. RSI(2):
Tetra Tech Inc.(TTEK | Quote | Chart | News | PowerRating) Short Term PowerRating 8. RSI(2):
David Penn is Senior Editor for TradingMarkets.com.
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The Connors Group, Inc. ("Company") is not an investment advisory service, nor a registered investment advisor or broker-dealer and does not purport to tell or suggest which securities or currencies customers should buy or sell for themselves. The analysts and employees or affiliates of Company may hold positions in the stocks, currencies or industries discussed here. You understand and acknowledge that there is a very high degree of risk involved in trading securities and/or currencies. The Company, the authors, the publisher, and all affiliates of Company assume no responsibility or liability for your trading and investment results. Factual statements on the Company's website, or in its publications, are made as of the date stated and are subject to change without notice.
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