PowerRatings Market Snapshot: Where Is the Edge?
As of 11:00 AM on Wednesday, the broad indices are all down significantly,
with the Nasdaq Composite leading the fall. Internet stocks are getting slammed
after rallying yesterday, with Amazon.com down nearly 16% on the day, after
dissapointing analyst expectations looking forward.
What do you do on a day like today, with the markets in turmoil? A quick and
easy way to scan the market for opportunities is the PowerRatings (for Traders)
Heat Map. Using the heat map, we quickly identified the broad Drugs sector as an
area of opportunity, both to the long and short side.
Within the Drugs sector, we count 7 stocks with a PowerRating (for Traders)
of 8 or higher, and we count 9 stocks with a PowerRatings (for Traders) of 3 or
lower. Within this sector, there is a deep divide between stocks that are primed
for a move higher or a move lower. Let’s check out a few of these individual
opportunities.
BULLISH
ImClone Systems
(
IMCL |
Quote |
Chart |
News |
PowerRating) has a PowerRating (for Traders) of 9, and
has fallen more than 5% intraday. This stock has a high potential to move over
the next week, especially considering today’s intraday weakness.
Click here to learn why this stock has an edge.
Incyte Group
(
INCY |
Quote |
Chart |
News |
PowerRating) has a PowerRating (for Traders) of 9, and has
fallen over 3% intraday. This stock is also trading at levels which have
historically led to short-term gains.
BEARISH
Regeneron Pharmaceuticals
(
REGN |
Quote |
Chart |
News |
PowerRating) has a PowerRating (for Traders)
of 3, and made 4 months highs today. This stock is trading at levels which have
historically led to a downside move in the short-term.
