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"Dow has been more oversold than DuPont," Mr. Hittle said, "and Dow pays a bit better dividend.
Oversold can become more oversold.
Now look at Google, which was significantly more oversold.
Oversold can always get more oversold, but there is potential for Friday's action to be climactic, especially combined with pullback to the support levels cited above.
Given the way the market closed Monday, rallying from its intraday lows, it looks like there are even more oversold opportunities for traders.
Early in trading on Friday, the stock is only becoming more oversold, gapping down at the open and down more than 2% mere minutes into the trading day.
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"Every 48 hours more stocks are oversold than overbought," said Bill Schneider, head of equity block trading at Warburg Dillon Read.
Nevertheless, Wednesday's sell-off helped bring a few more stocks into oversold territory above the 200-day, and among these are a number of high PowerRatings stocks that short-term traders looking for short-term pullbacks should keep an eye on over the next few days.
"The shares are in our opinion excessively oversold; that has more to do with negative sentiment than negative fundamentals," he added.
Here are five stocks that not only have high Short Term PowerRatings but also have the sort of low, two-period RSIs that further mark the stocks as oversold and are more likely than the average stock to outperform in the near term.
Instead, it is more likely that makers of netbooks oversold a product that underperformed.
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