This Day On The Street
Continue to site right-arrow
This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here
Cramer's Action Alerts PLUS - See his portfolio and get alerts BEFORE every trade. Learn more NOW!

Oversold List Shows Market at Tipping Point

NEW YORK ( TheStreet) -- It's a lot easier to pick stocks when the Fed is on your side. The Fed pumping money into the system doesn't lower the investing standards though. Throwing caution to the wind is what put the housing market in the situation it is in now.

An important caveat in the market is "never confuse a bull market with brains." The oversold stocks ready to bounce I found for this article lead me to one stock to buy and one to sell off. Some of the stocks may surprise you.

On Aug. 28, I wrote Four Oversold Stocks Ready To Bounce Higher .

In that article, I picked only four stocks I liked. I will use the closing price on Aug. 28 as the starting price, and the closing price on Tuesday as reference points. All returns are rounded down. Let's see how they performed:

  • Nokia (NOK) -4.29%
  • Hewlett Packard (HPQ) +7.9%
  • Brazilian Petroleum (PBR) +10.5%
  • Radioshack (RSH) +10%

    The Nokia pick is the worst pick I have had so far, but I believe it remains a buy.

    In my last article oversold article Six Oversold Stocks Ready to Bounce I missed one also.

    I am pleased with the results this time around again. The number of winners (three) outnumbers the trades that lost (one) and all the winners were greater than the one loser. That's a good day's work in my book.

    What I am looking at now:

    1 of 7

    Check Out Our Best Services for Investors

    Action Alerts PLUS

    Portfolio Manager Jim Cramer and Director of Research Jack Mohr reveal their investment tactics while giving advanced notice before every trade.

    Product Features:
    • $2.5+ million portfolio
    • Large-cap and dividend focus
    • Intraday trade alerts from Cramer
    Quant Ratings

    Access the tool that DOMINATES the Russell 2000 and the S&P 500.

    Product Features:
    • Buy, hold, or sell recommendations for over 4,300 stocks
    • Unlimited research reports on your favorite stocks
    • A custom stock screener
    Stocks Under $10

    David Peltier uncovers low dollar stocks with serious upside potential that are flying under Wall Street's radar.

    Product Features:
    • Model portfolio
    • Stocks trading below $10
    • Intraday trade alerts
    14-Days Free
    Try it NOW
    Only $9.95
    Try it NOW
    14-Days Free
    Try it NOW

    Check Out Our Best Services for Investors

    Dividend Stock Advisor

    David Peltier identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.

    Product Features:
    • Diversified model portfolio of dividend stocks
    • Updates with exact steps to take - BUY, HOLD, SELL
    Trifecta Stocks

    Every recommendation goes through 3 layers of intense scrutiny—quantitative, fundamental and technical analysis—to maximize profit potential and minimize risk.

    Product Features:
    • Model Portfolio
    • Intra Day Trade alerts
    • Access to Quant Ratings
    Options Profits

    Our options trading pros provide over 100 monthly option trading ideas and strategies to help you become a well-seasoned trader.

    Product Features:
    • Actionable options commentary and news
    • Real-time trading community
    Try it NOW
    Try it NOW
    Try it NOW
    To begin commenting right away, you can log in below using your Disqus, Facebook, Twitter, OpenID or Yahoo login credentials. Alternatively, you can post a comment as a "guest" just by entering an email address. Your use of the commenting tool is subject to multiple terms of service/use and privacy policies - see here for more details.
    Submit an article to us!
    FAZ $12.38 0.00%
    IWM $124.37 0.00%
    SDS $21.33 0.00%
    SPY $206.43 0.00%
    TZA $10.11 0.00%


    DOW 17,776.12 -200.19 -1.11%
    S&P 500 2,067.89 -18.35 -0.88%
    NASDAQ 4,900.8850 -46.5560 -0.94%

    Partners Compare Online Brokers

    Free Reports

    Free Newsletters from TheStreet

    My Subscriptions:

    After the Bell

    Before the Bell

    Booyah! Newsletter

    Midday Bell

    TheStreet Top 10 Stories

    Winners & Losers

    Register for Newsletters
    Top Rated Stocks Top Rated Funds Top Rated ETFs