As this week draws to a close, thought I’d take a look back at the bellwether stocks I suggested were oversold and sure to bounce with the market.
Note this link from February 11:
Bellwethers stocks sure to bounce…
The bellwether stocks are AAPL, AMZN, NVDA, TSLA, NFLX, GOOGL, BIDU, BABA, TWTR, FB, FSLR, BID, and GS.
Been two weeks since it was suggested the bellwether bounce would be sure to happen with the general market’s current up swing and the group has been led by BIDU up 13.5%, NFLX up 10.4%, TSLA up 9.6%, and both AMZN and FSLR north of 8%. The laggards have been TWTR, BID, and FB.
All twelve of the stocks in the basket are in the black on this swing trade.
For an easy comparison between the then and the now see the charts below. The white flags on the lower right of each chart show the cash (and percentage) gains per $100K committed to each trade for the past two weeks.
If the market continues up after this week’s sideways slide, mounting a further rally, these stocks are sure to go higher again with it, probably with the laggards playing some catch-up.