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The following is a list of oversold stocks, as defined by the Relative Strength, or RSI(14), indicator. All of the stocks mentioned below have RSI(14) levels below 30, which usually signals deeply oversold conditions.

In addition, all of these stocks have large cash holdings relative to the current price.

Some might think that this cash provides some downside protection to these names. What do you think? How long before most of the bad news is priced in? We're not going to go into detailed analysis for each company - the goal here is to give you a starting point for your own analysis.

RSI(14) and short float data sourced from Finviz.

Interactive Chart: Press Play to compare changes in analyst ratings over the last two years for the stocks mentioned below. Analyst ratings sourced from Zacks Investment Research. Note: The numbers on top of items represent the forward P/E ratio, if available.

The list has been sorted by the RSI(14) indicator.

1. Eastman Kodak Co. (EK): Photographic Equipment and Supplies Industry. Market cap of $984.1M. RSI(14) at 28.05. Price / Cash per Share at 0.7, Price / Free Cash Flow per Share at 5.62. Short float at 14.41%, which implies a short ratio of 3.96 days. The stock has lost -39.8% over the last year.

2. Tellabs Inc. (NASDAQ:TLAB): Communication Equipment Industry. Market cap of $1.96B. RSI(14) at 21.61. Price / Cash per Share at 1.4, Price / Free Cash Flow per Share at 8.39. Short float at 3.94%, which implies a short ratio of 2.22 days. The stock has lost -17.19% over the last year.

3. Tessera Technologies Inc. (NASDAQ:TSRA): Semiconductor Equipment and Materials Industry. Market cap of $873.97M. RSI(14) at 29.94. Price / Cash per Share at 1.85, Price / Free Cash Flow per Share at 12.2. Short float at 2.32%, which implies a short ratio of 2.82 days. The stock has gained 0.41% over the last year.

4. RadioShack Corp. (NYSE:RSH): Electronics Stores Industry. Market cap of $1.72B. RSI(14) at 23.9. Price / Cash per Share at 2.39, Price / Free Cash Flow per Share at 8.08. Short float at 10.47%, which implies a short ratio of 3.71 days. The stock has lost -21.13% over the last year.

5. Southwest Airlines Co. (NYSE:LUV): Regional Airlines Industry. Market cap of $8.85B. RSI(14) at 24.88. Price / Cash per Share at 2.5, Price / Free Cash Flow per Share at 8.39. Short float at 2.3%, which implies a short ratio of 3.12 days. The stock has gained 2.6% over the last year.

Disclosure: I have no positions in any stocks mentioned, and no plans to initiate any positions within the next 72 hours.

Source: Top Five Cash-Rich, Oversold Stocks