5 PowerRatings Stocks for the Next 5 Days: THOR, SLXP, STE, STSI, ISYS
Stocks staged one of the more dramatic intraday reversals in some time, plunging by 300 Dow points shortly after midday only to rally back in the final hour to close higher by more than 500 Dow points.
Maybe Thursday’s shake ‘n’ bake is what was required during the much-anticipated test of the October lows. Surely the panic that set in as the markets began their nose dive shortly after noon Eastern (only to rally almost as swiftly as they retreated) was the stuff of which short term bottoms in markets can be made. As I have been pointing out daily, stocks were diving deeper and deeper into oversold extremes. And even though the major market indexes are trading below their 200-day moving averages, oversold extremes tend to resolve themselves with a move to the upside.
So what Thursday’s rally the beginning of that “move to the upside†and, if so, how do swing traders react? Most immediately, we are seeing short and leveraged short ETFs start to earn Short Term PowerRatings upgrades. These will likely be among our top trading candidates over the next several days if stocks continue to move higher.
In the meanwhile there are a few stocks trading above their 200-day moving averages that were pulling back during the recent weakness. Many of these stocks are increasingly attractive as potential trades if we get the requisite intraday weakness that allows traders to take positions at lower levels.
Thoratec Corporation
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THOR |
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PowerRating) Short Term PowerRating 8. RSI(2): 9.33
Salix Pharmaceuticals
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SLXP |
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PowerRating) Short Term PowerRating 8. RSI(2): 12.43
Steris Corporation
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PowerRating) Short Term PowerRating 8. RSI(2): 1.06
Star Scientific Inc.
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STSI |
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PowerRating) Short Term PowerRating 8. RSI(2): 22.89
Integral Systems Inc.
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ISYS |
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PowerRating) Short Term PowerRating 7. RSI(2): 41.82
Four out of the five stocks in today’s report have Short Term PowerRatings of 8. Our research into short term stock price behavior since 1995 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.
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.
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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.