With the Nasdaq leading both the Dow industrials and the S&P
500, the Nasdaq 100 might seem like an odd place to look for stocks
that are both trading in bull markets and are pulling back toward
levels where buyers have typically become aggressive. That said,
there are a few stocks in the Nasdaq that have been moving lower in
recent days [or "day" in the case of
PC Connection
(
PCCC
)] below, and should these stocks continue to pullback, they could
represent some of the few opportunties to buy weakness and sell
strength in the current market.
Shares of
Body Central Corporation
(
BODY
) have closed lower for three days in a row, finishing trading on
Friday in technically oversold territory above the 200-day moving
average. The sell-off in BODY comes in the wake of the stock's
recent move to new, 52-week highs in the final days of January, and
marks BODY's second trip to oversold territory in 2012.
The last pullback in BODY was early in January. Then, a
three-day sell-off that took the stock into
oversold
territory for two days led to a gain of more than 5% over the next
three sessions.
Also pulling back in bull market territory ahead of trading on
Monday are shares of PC Connection. Closing near its highest levels
in a year on Thursday, the stock plunged in Friday's session,
losing more than 19%. Despite the sell-off, PCCC remains in
bull market territory
and is trading on the edge of technically oversold levels.
Suffice to say that Friday's drop was the largest in the stock
in more than a year. Shares of PCCC had gained sharply in November
and December of 2011 and had spent January moving mostly
sideways.
The final stock in today's report is
Sanderson Farms
(
SAFM
).
Shares of Sanderson Farms have earned neutral, 7 out of 10
ratings as of Friday's close, and have a positive edge of more than
three-quarters of a percent in the short-term. SAFM has closed
lower for three days in a row - five out of the past six - and have
finished the last two sessions in technically oversold
territory.
Want more stocks? Read our latest from
7 Stocks You Need to Know
:
Trading a Double Shot of Peet's Coffee and Tea
.
David Penn
is Editor in Chief of TradingMarkets/com