TradingMarkets Monday Stock Movers
Stocks were holding steady in the first hour of trading on Monday, as market digests the sizable gains from Friday’s overwhelmingly bullish trading.
Unit Corporation
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PowerRating) Short Term PowerRating 9. RSI(2): 3.39
Even though the markets are on balance overbought in the wake of Friday’s 300+ point day in the Dow industrials, I am finding a huge number of stocks that have been moving lower over the past several days. What are of particular interest to us every Monday morning are those stocks that have been down by 10% or more over the past five days.
Compass Minerals International
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CMP |
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PowerRating) Short Term PowerRating 8. RSI(2): 13.54
These are the stocks we feature every day in our Monday Stock Movers. Our research has indicated that stocks that are trading above the 200-day moving average and have been down by 10% or more over the past five days have actually produced positive returns in one-day, two-day and one-week timeframes.
Savient Pharmaceuticals
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PowerRating) Short Term PowerRating 8. RSI(2): 19.14
When combined with our Short Term PowerRatings, edges like this can help traders find particularly attractive opportunities. For example, on a day when the markets are still overbought, combining the “Up/Down 10%” indicator with stocks that have Short Term PowerRatings of 8 or 9 allows us to ferret out a few candidates, such as the five stocks in today’s report, that provide lower cost entries in a market that is otherwise – in the immediate term – overpriced.
Exide Technologies
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XIDE |
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PowerRating) Short Term PowerRating 8. RSI(2): 6.27
Caution and patience remain the best tactics for swing traders today, as we wait for the markets to work off their overbought condition. Keep an eye on stocks like the five in today’s report for additional intraday weakness that will allow traders to take positions in these stocks that are as close to their extreme lows as possible.
Note that all five stocks in today’s report have Short Term PowerRatings of 8 or 9. Our research into short term stock price behavior 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 have been even more impressive, besting the average stock by a margin of more than 13 to 1 over the same short term time frame.
Cleveland Cliffs Inc.
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PowerRating) Short Term PowerRating 8. RSI(2): 8.54
Does your stock trading need a tune-up? Our highest Short Term PowerRatings stocks have outperformed the average stock by a margin of nearly 17 to 1 after five days.
| Click here to start your free, 7-day trial to our Short Term PowerRatings! |
Whether you have a trading strategy of your own that could use a boost or are looking for a way to tell the stocks that will move higher in the short term from the stocks that are more likely to disappoint, our Short Term PowerRatings are based on more than a decade of quantified, backtested simulated stock trades involving millions of stocks between 1995 and 2007. Click the link above or call us at 888-484-8220, extension 1, and start your free trial today.
David Penn is Senior Editor at TradingMarkets.com.