Ride the bear with stocks like this
In today’s Chart of the Day, we’re going to look at the
TradingMarkets
Implosion 10 Technology List.
These are the 10 weakest technology stocks (from a universe of hundreds of
technology issues including medical technology, bio-technology, etc) over the
past few weeks, as measured by our proprietary relative strength model. They
recently have under-performed approximately 98% of all other technology stocks.
Ranked 1 through 10 (starting with the weakest), these stocks will most interest
momentum traders, short sellers and bottom fishers.
All 10 stocks listed for 07/13/06 closed lower today. Among the 10 was Verint
Systems
(
VRNT |
Quote |
Chart |
News |
PowerRating), which lost more than 3% today.
As you can see from the chart above, VRNT is trading well
below its 200-day
moving average
and has been trending lower for some time. This chart is a perfect example of
the type of stocks highlighted by the TradingMarkets Implosion 10 Technology
List.
In the days to come we’ll show you more of these examples on both the long and
short side. I’ve enjoyed showing you this Chart of the Day, please feel free to
email me at editor@tradingmarkets.com
if you have any questions or comments.
Ashton Dorkins
Editor-in-Chief
Reminder: We are in no way recommending the purchase or short sale of these
stocks. This article is intended for education purposes only. Trading should be based on your own understanding of market conditions,
price patterns and risk; our information is designed to contribute to your
understanding. Controlling risk through the use of protective stops is critical.