Keep These Stocks On The Radar
This morning, the major stock indexes are getting pummeled. The Dow Jones Industrial Average is trading lower by more than 200.0 points on the day. Most leading sectors are trading sharply lower. On the surface the market is very weak. As you all know the Federal Reserve Chairman Ben Bernanke is testifying on Capitol Hill this morning. If the market likes something he says and there is a short term bounce or rally, traders should watch the stocks that are already strong today.
There are many stock that are showing good relative strength this morning. If by some chance the major stock indexes bounce and rally higher these stocks would likely be the leaders today and trade higher. Traders should follow stocks such as F5 Networks Inc (NASDAQ:FFIV), Akamai Technologies Inc (NASDAQ:AKAM), Target Corp (NYSE:TGT), and Vertex Pharmaceuticals Inc (NASDAQ:VRTX). These stocks are likely candidates to run if the markets stage a rally off the morning lows.