Owens Illinois ( OI) ($18.76) has a buy rating, according to ValuEngine, with an excellent P/E ratio, and the stock is below its 200-day SMA at $20.94. Owens set a 2012 high at $25.46 on Jan. 26 and a Sept. 5 low at $16.82. It has a neutral weekly chart profile, and its 200-week SMA is at $26.04. Investors and traders should reduce holdings on strength to my weekly pivot at $19.46, then employ a "buy and trade" strategy between the value level and risky level. Parker Hannifin ( PH) ($83.58) has a hold rating, according to ValuEngine, with a favorable P/E ratio and is above its 200-day SMA at $82.44. PH traded to a 2012 high at $91.47 on Feb. 29 and as low as $70.42 on July 12. It has a positive weekly chart with the 200-week SMA at $67.90. Investors and traders should employ a "buy and trade" strategy between the value level and risky level. United Technologies ( UTX) ($78.29 vs. $77.89 on Aug. 13) has a hold rating, according to ValuEngine, with a so-so P/E ratio. It is just above its 200-day SMA at $78.15. UTX has a 2012 high at $87.50 on March 15 and a June 5 low at $70.71. The weekly chart is neutral with the 200-week SMA at $70.37. Investors and traders should reduce holdings on strength to my semiannual pivot at $78.58 and then employ a "buy and trade" strategy between the value level and risky level. In our table of industrial products stocks, six of 10 have buy ratings, while the other four have hold ratings. Eight of 10 are undervalued, with Owens-Illinois undervalued by 31.2% and United Technologies overvalued by 7.2%. Nine of 10 stocks had more than double-digit gains over the past 12 months, led by General Electric with a gain of 52.1%. Gardner Denver is the only 12-month loser, down 7.7%. All 10 stocks are expected to rally over the next 12 months. They range from Deere, which is expected to rally just 3.0%, to Boeing, which is expected to gain 10.5%. Seven of the 10 stocks (BA, CAT, DE, GDI, OI, PH & UTX) had their year-to-date highs in the first half of the year, while the Dow industrials set a multiyear high on Sept. 14. This lagging is a symptom that these stocks have already been suffering the early stages of QE fatigue. The other three stocks (GE, ITW & UTX) had year-to-date highs in August or September, with GE at a multiyear high on Friday. At the time of publication, Suttmeier had no positions in securities mentioned. The following commentary comes from an independent investor or market observer as part of TheStreet's guest contributor program, which is separate from the company's news coverage.