Getting Ready for Wednesday Morning’s Trading 5/1/13
Here are the stocks, ETFs, and Leveraged ETFs you need to know for Wednesday morning.
The following securities are the most oversold and overbought according to ConnorsRSI for Wednesday’s trading. Click here to download your free copy of An Introduction to ConnorsRSI. This Watchlist was created using the TradingMarkets Screener.
(Click Symbol for More Details)
| Name | Symbol | ConnorsRSI |
|---|---|---|
| SPDR S&P 500 ETF | SPY | 67.43 |
| Powershares QQQ | QQQ | 81.06 |
| Russell 2000 ETF | IWM | 71.52 |
| S&P GSCI Crude Oil TR Index ETN | OIL | 31.47 |
| SPDR Gold | GLD | 73.94 |
| 20+ Year Trsy Bond Ishares | TLT | 57.79 |
| VIX Short-Term Futures ETN Ipath | VXX | 28.82 |
5 Most Oversold Stocks
| Name | Symbol | ConnorsRSI | Price |
|---|---|---|---|
| Aveo Pharmaceuticals | AVEO | 3.09 | $5.11 |
| Nuance Communications | NUAN | 9.31 | $19.04 |
| Opko Health Inc | OPK | 10.96 | $6.66 |
| Pitney Bowes Inc | PBI | 11.14 | $13.67 |
| Eastman Chemical Company | EMN | 11.59 | $66.65 |
5 Most Oversold ETFs
| Name | Symbol | ConnorsRSI | Price |
|---|---|---|---|
| Healthcare Select Sector SPDR | XLV | 24.77 | $47.33 |
| VIX Short-Term Futures ETF Prosh | VIXY | 28.56 | $10.22 |
| VIX Short-Term Futures ETN Ipath | VXX | 28.82 | $18.97 |
| Alerian MLP Index ETN Jpmorgan | AMJ | 28.93 | $46.37 |
| Short Russell 2000 Proshares | RWM | 29.40 | $21.45 |
5 Most Oversold Leveraged ETFs
| Name | Symbol | ConnorsRSI | Price |
|---|---|---|---|
| Ultrashort QQQ Proshares | QID | 18.76 | $24.47 |
| Ultrapro Short QQQ Proshares | SQQQ | 19.29 | $30.21 |
| Gold Miners Bear 3X Direxion | DUST | 25.55 | $82.29 |
| Ultrashort Russell 2000 Proshare | TWM | 27.49 | $19.56 |
| Smallcap Bear 3X Direxion | TZA | 28.28 | $36.35 |
5 Most Overbought Stocks and ETFs
| Name | Symbol | ConnorsRSI | Price |
|---|---|---|---|
| UBS Ag | UBS | 98.87 | $17.79 |
| Glimcher Realty Trust | GRT | 98.13 | $12.54 |
| Trw Automotive Holdings Corp. | TRW | 96.43 | $60.07 |
| Lkq Corp. | LKQ | 96.32 | $24.08 |
| Old Republic International Corp. | ORI | 96.20 | $13.50 |
“If I could only trade one strategy, it would be early morning gaps.” — Kevin Haggerty, Former Head of Trading Fidelity Capital Markets
Click here to learn how to identify the best stock gap setups every single day, including how to select optimal entry levels and where and when to exit your positions.
Learn more about the strength of this gap trading strategy in How to Trade High-Probability Stock Gaps – 2nd Edition.