The PPT has many tools, one cool feature is the ability to screen for stocks that are oversold with the potential for a nice bounce within days. Now nothing is guaranteed using statistics, but I like the ability to find ideas with a calculator brain when knife catching.
Let’s go ahead and take a look at tonight’s screen. The following are stocks that are oversold on our 12 month algos, and in the past have had an average bounce of 5% with a 5 day holding period:
From the screen, FSLR is interesting here for a bounce, so long a solar trades well. I’m even eying the QIHU for a bounce trade. MSFT can work here too, for those looking for yield.
I’ll be keeping an eye on all 3 tomorrow. Hat tip to 12631 member Belzile for bringing this screen back to my attention.
See you guys at the open…