ari5000

Overbought Stocks

It's a very helpful list. Bunch of failed traders in the comment section.

If the data isn't helpful to you, then don't use it. He's presenting data, not making some lame prediction like 'this is the top'.

All stocks tend to undergo reversion of the mean -- even if they do continue to go up for years, there are always short term corrections where a stock will drop to its 50 or 20 day MA -- where most traders are comfortable rebuying and creating true support.

A lot of financials on this list. The squeeze will remain in effect until the $USD rallies. Today the $USD looked like it might revert but finished down once again... so no dice.

Keep this list next to you when the $USD finally makes a swing higher. I bet this whole list gets slammed, far outpacing the drop in the rest of the SPY. But follow your plan. Saying the market will correct "with a vengeance by mid October" is just plain stupid.

And not surprisingly, that kind of opinion probably means the writer hasn't made much money on the best rally in years.