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
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
Check Out Our Best Services for Investors
- $2.5+ million portfolio
- Large-cap and dividend focus
- Intraday trade alerts from Cramer
Access the tool that DOMINATES the Russell 2000 and the S&P 500.
- Buy, hold, or sell recommendations for over 4,300 stocks
- Unlimited research reports on your favorite stocks
- A custom stock screener
- Model portfolio
- Stocks trading below $10
- Intraday trade alerts