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:

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