Bad News Stocks Acting Mostly Positive

Following Monday's 9% decline, it seemed as though all hope was lost for the bulls.  However, over the last two days, one positive trend investors have been experiencing is that many stocks announcing negative news have been rising.  In the table below, we highlight selected stocks that have announced negative news in the last two days.  For each name, we also include how the stock performed from the open to close on the day of the announcement (today's stocks are through 2PM). 

As shown, most of these names have actually rebounded from their initial opening gaps lower.  When stocks attract buying interest on bad news, it is a strong indication that many investors are starting to see values.  As long as this lasts, it is an encouraging signal.

 

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Comments

[Tom Chechatka]

My wonder is whether the mother of all short squeezes is about to be orchestrated.