September 30, 2010
U.S. equity markets look likely to open mixed when trading begins Monday morning. With the Nasdaq 100 (basis the PowerShares QQQ (QQQQ | PowerRating)) very oversold, the Russell 1000 (basis the iShares Russell 2000 Index Fund (IWM | PowerRating)) overbought and the S&P 500 (basis SPDR S&P 500 ETF (SPY | PowerRating)) more or less in neutral territory, traders will have the opportunity to be more discriminating in their short term trading in the first full week of trading in October.
Here are 7 Stocks You Need to Know for Monday
Among the day’s bigger gainers was Citigroup (C | PowerRating) on Friday. Citigroup gained more than 4%, closing at its highest levels since late July.
Down more than 3% on Friday and closing lower for a second straight trading day (and three out of the past four) were shares of Baidu, Incorporated (BIDU | PowerRating) (below).
Despite the strong selling in recent days, BIDU shares are still more or less range-bound above the 200-day moving average and remain near year-to-date highs.
Pulling back by more than 2% in Friday’s trading and closing lower for four out of the past five trading days was Amazon.Com Inc (AMZN | PowerRating). The stock is among the most oversold in the Nasdaq 100 that is trading above the 200-day moving average.
After becoming exceptionally overbought below the 200-day moving average early in the week, shares of Hewlett-Packard Co (HPQ | PowerRating) continue to lose ground, closing lower by more than 3% in trading on Friday.
There are few stocks trading above the 200-day moving average that have seen more selling than Expedia Inc (EXPE | PowerRating) in recent days.
Shares of Expedia Inc. have closed lower for five days in a row. The stock is more oversold than it has been since late August, shortly before EXPE rocketed upward away from its 200-day moving average.
Netflix Inc (NFLX | PowerRating) pulled back by more than 4% above the 200-day on Friday, closing lower for a second straight session. Down four out of the past five trading days and moving closer to oversold territory above the 200-day were shares of Apple Inc (AAPL | PowerRating).
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