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A Closer Look at Apple, Google and 5 Really Big Stocks Over $200

NEW YORK ( TheStreet) -- The bull market for stocks has entered the momentum phase where stocks move higher not on fundamentals but on positive technical momentum. Today's focus is on seven momentum stocks including two that report earnings today and tomorrow. Apple (AAPL - Get Report) ($525.96) reports in afterhours trading today and EPS is expected to be $7.85 per share. LinkedIn (LNKD - Get Report) ($240.70) is expected to report EPS of a penny a share afterhours Tuesday.

These seven momentum stocks trade well above $200 per share. All seven are overvalued by 11% to 92.6%. Two have buy ratings and five have hold ratings. One is down 13.7% over the last 12 months while the gainers are up 49.8% to 433.3%. Three of the seven have astronomical price-to-earnings ratios between 226.2 and 1297.8. All are well above their 200-day simple moving averages reflecting the risk of a reversion to the mean.
[Read: <a target="blank" data-add-tracking="true" href="http://www.thestreet.com/story/12084410/1/microsofts-the-fraud-not-amazon.html?kval=dontmiss"><em> Microsoft's the 'Fraud,' Not Amazon</em></a>]

Reading the Table

OV/UN Valued: Stocks with a red number are undervalued by this percentage. Those with a black number are overvalued by that percentage according to ValuEngine.

VE Rating: A "1-engine" rating is a strong sell, a "2-engine" rating is a sell, a "3-engine" rating is a hold, a "4-engine" rating is a buy and a "5-engine" rating is a strong buy.

Last 12-Month Return (%): Stocks with a red number declined by that percentage over the last 12 months. Stocks with a black number increased by that percentage.

Forecast 1-Year Return: Stocks with a red number are projected to decline by that percentage over the next 12 months. Stocks with a black number in the table are projected to move higher by that percentage over the next 12 months.

Value Level: Price at which to enter a GTC limit order to buy on weakness. The letters mean; W-weekly, M-monthly, Q-quarterly, S-semiannual and A-annual.

Pivot: A level between a value level and risky level that should be a magnet during the time frame noted.

Risky Level: Price at which to enter a GTC limit order to sell on strength.
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Apple (AAPL - Get Report) ($525.96) has a hold rating according to ValuEngine and it's 11% overvalued with a one-year price target at $536.11. The daily chart is positive but overbought with the stock well above its 50-day and 200-day SMAs at $491.95 and 455.28. The weekly chart has been positive since the stock tested its 200-week SMA back at the end of June when the stock traded as low as $388.87. My weekly value level is $501.66 with my annual pivot at $510.64 and semiannual risky level at $620.84.
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SYM TRADE IT LAST %CHG
AAPL $110.96 3.00%
AMZN $507.02 2.10%
GOOG $608.22 1.70%
LNKD $177.19 1.10%
NFLX $101.44 -4.10%

Markets

Chart of I:DJI
DOW 16,267.50 +209.15 1.30%
S&P 500 1,933.58 +19.73 1.03%
NASDAQ 4,698.3230 +62.2180 1.34%

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