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


Connors Research Trading Strategy Series

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.