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The S&P 500 Chart Says That Apple Is Oversold, Ford Is Overbought

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Only four other times in the last five years have stocks been more overbought.

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Currently our firm has a Strong Buy (5 Rating) on the S&P 500 (INDEXSP:.INX), which we went to back on December 19.



At this time, 6% of the S&P 500 is overbought. To put this in perspective, only four other times in the last five years have stocks been more overbought.
  • 11% was overbought both in April 2010 and May 2010.
  • 30% was overbought in July 2009.
  • 9% was overbought in September 2008.

The two most overbought names in the S&P 500 are Whirlpool Corporation (NYSE:WHR) and Tenet Healthcare (NYSE:THC). Conversely, the two most oversold names are Exelon Corporation (NYSE:EXC) and Apple (NASDAQ:AAPL). We went to a Strong Sell on Apple on November 8. We don't not recommend buying stocks based on a countertrend.

(Also read: Today's Stock Downgrades: Apple Unable to Keep the Doctor Away.)


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Ford (NYSE:F), a widely held name that is up 28% since moving to a Strong Buy, is now overbought.


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Below is an updated list of the 20 strongest names in the S&P 500.


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Also read: Is Apple in Its Sammy Hagar Era?

For more from ChartLabPro.com, click here.

No positions in stocks mentioned.
The information on this website solely reflects the analysis of or opinion about the performance of securities and financial markets by the writers whose articles appear on the site. The views expressed by the writers are not necessarily the views of Minyanville Media, Inc. or members of its management. Nothing contained on the website is intended to constitute a recommendation or advice addressed to an individual investor or category of investors to purchase, sell or hold any security, or to take any action with respect to the prospective movement of the securities markets or to solicit the purchase or sale of any security. Any investment decisions must be made by the reader either individually or in consultation with his or her investment professional. Minyanville writers and staff may trade or hold positions in securities that are discussed in articles appearing on the website. Writers of articles are required to disclose whether they have a position in any stock or fund discussed in an article, but are not permitted to disclose the size or direction of the position. Nothing on this website is intended to solicit business of any kind for a writer's business or fund. Minyanville management and staff as well as contributing writers will not respond to emails or other communications requesting investment advice.

Copyright 2011 Minyanville Media, Inc. All Rights Reserved.
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