Percentage of Oversold Stocks At Highest Level Since March 2009
Monday, February 8, 2010 at 05:54PM With 2010 getting off to an even worse start than 2009 at this point in the year, it should come as little surprise that the current decline has been the sharpest since the S&P 500 bottomed in March 2009. One indicator we monitor on a daily basis and update each day in our Morning Lineup is the percentage of S&P 500 stocks that are oversold and overbought (stocks that are more than one standard deviation above or below their 50-day moving average). Currently, 305 stocks (61%) in the S&P 500 are oversold, while only 25 are overbought. As shown in the chart below, the percentage of oversold stocks in the S&P 500 (green line) is higher than it has been at any other time since the S&P 500 bounced off the lows in March 2009.
With only 25 overbought stocks in the S&P 500, we looked to see what names currently make up the list in order to see what, if any, themes may be at play. The table below highlights each of these names along with the industry each one is classified under. As shown in the list, many of these companies (nine) come from industries which are in the Consumer Discretionary sector, so the market seems to be giving the consumer a lot more credit today than it was a year ago. But the most surprising aspect of the list has to be the homebuilders. As shown, three of the 25 stocks on the list are homebuilding stocks. Given that this sector was at the heart of the bear market in 2007, it says a lot about how different a market we are in now versus one year ago.
The above chart is updated daily in our Morning Lineup. To have this report emailed each morning to you for $1 per day, subscribe to Bespoke Premium today.
Reader Comments (1)
ed hardy
Christian Audigier caps
ed hardy men hoody
ed hardy women hoody
ed hardy bags
ed hardy swimsuit
ed hardy suit
ed hardy caps
ed hardy belt
ed hardy slipper
ed hardy sunglasses
ed hardy man underwear
ed hardy Womens Bottoms
ed hardy man denim
ed hardy man trunk
ed hardy man shoes
ed hardy women shoes
ed hardy stoup
ed hardy jewelry
ed hardy mobile face
ed hardy mug
ed hardy man tops
ed hardy man shirt
ed hardy women scarves
ed hardy women polo
ed hardy women pants
ed hardy women denim
ed hardy man pants
ed hardy man swimsuit
ed hardy man loungewear
ed women mid pants
ed women sport pants
ed hardy wallet
ed hardy mousepad
ed hardy mini skirt
ed hardy women short
ed Short sleeve mens shirts
ed Short sleeve Womens shirts
ed Long sleeve mens shirts
ed Long sleeve womens shirts
ed hardy men hoody
ed hardy women hoody
ed hardy bags
ed hardy suit
ed hardy swimsuit
ed hardy belt
ed hardy caps
ed hardy slipper
ed hardy sunglasses
ed hardy man underwear
ed hardy Womens Bottoms
ed hardy man denim
ed hardy man trunk
ed hardy man shoes
ed hardy women shoes
ed hardy stoup
ed hardy jewelry
ed hardy mobile face
ed hardy mug
ed hardy man tops
ed hardy man shirt
ed hardy women scarves
ed hardy women polo
ed hardy women pants
ed women sport pants
ed hardy wallet
ed hardy mousepad
ed hardy mini skirt
ed hardy women short
ed hardy women sport tank
ed Short sleeve men shirts
ed Short sleeve Women shirts
ed Long sleeve men shirts
ed Long sleeve women shirts
ed hardy men hoody
ed hardy bags
ed hardy swimsuit
ed hardy suit
ed hardy caps
ed hardy belt
ed hardy slipper
ed hardy sunglasses
ed hardy man underwear
ed hardy Womens Bottoms
ed hardy man denim
ed hardy man trunk
ed hardy men shoes
ed hardy women shoes
ed hardy stoup
ed hardy jewelry
ed hardy mobile face
ed hardy mug
ed hardy man tops
ed hardy man shirt
ed hardy women scarves
ed hardy women polo
ed hardy women pants
ed hardy man swimsuit
ed hardy man loungewear
ed women mid pants
ed hardy wallet
ed hardy mousepad
ed hardy mini skirt
ed hardy women short
Tiffany Necklaces
Tiffany charms
Tiffany Bracelets
Tiffany Pendants
Tiffany Earrings
Tiffany Rings
Tiffany Accessories
Tiffany Sets