Three Stocks With Triple-Digit Earnings This Quarter
The
market is wading through a correction that has
expanded over the past couple of days.
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The Nasdaq
began the poor action almost 8 weeks ago as it started producing distribution,
or evidence of professional sellers. This is gauged by watching for trading
days where an index closes lower on heavier volume than the previous day. Over
the past two days the selling has spilled over into the larger-cap S&P
500 and other indexes as volume has been above-average.
You have probably heard
me mention before that most stocks will follow the market. Well, now is no different
as mostly every group has followed the recent downdraft. On both the NYSE and
Nasdaq, 70% of the stocks declined.
^next^
Following rules that I do,
most of my investment capital has been pushed to the sidelines. Right now that
gives a good feeling as we have seen the market go from good to bad very quickly.
Now is the time to pursue research into companies that still display strong
fundamentals as we approach earnings season. Secondly, look for names that are
actually holding areas of key support or outperforming the overall market. American
Pharma
(
APPX |
Quote |
Chart |
News |
PowerRating) is an example.
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The averages still define
this pullback as a correction since they are down less than 20%. After that
amount, it becomes a Bear Market. There are still names acting well out there,
and earnings have been very strong out of many growth companies. Chinese
names for example, are displaying huge earnings growth. Aluminum
Cp of China
(
ACH |
Quote |
Chart |
News |
PowerRating), Sina
(
SINA |
Quote |
Chart |
News |
PowerRating)
and Netease
(
NTES |
Quote |
Chart |
News |
PowerRating) all showed
triple-digit numbers in the most recent quarter.
Enjoy your weekend!
Tim Truebenbach
timt@tradingmarkets.com