Fisher Scientific and Invitrogen?
During market corrections, I like to scan for stocks with strong relative strengths. Those are the ones that usually rise when the correction is over. I noticed that Fisher Scientific (FSH) and Invitrogen (IVGN) both gained ~ 1% on double their average volume. This is pretty significant considering the market sold off hard. Take a look at today's action for Fisher and Invitrogen. I'm not making any moves based on today's observation, but something is up with these guys.
Note: I have a position in Invitrogen.
posted by Money Turtle @ 7:52 PM
2 comments
2 Comments:
Why do stocks with strong relative strengths tend to rise after the correction? Was that some kind of theory?
How are these two stocks doing after two days you made the observation?
Stocks that decline the least or even go up in a market correction are often the leaders. These stocks are often in strong demand, so when the selling pressure is over they just start to take off. It's just a general observation; I've seen this happen time and time again.
Fisher was up 1.46% and Invitrogen was up 1.67%. The S&P 500 index was up 1%. Invitrogen went up that day because they received a favorable court ruling against Stratagene.
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