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Stocks across a diverse variety of industries hit the Long Term PowerRatings upgrade list today. Industries as wide ranging as the internet to farm products to chemicals made the cut jumping one or more notches higher.
The key to successful long term stock investing is to choose stocks that have the potential for aggressive gains, over time, yet very little of the risky volatility that so often plagues the latest hot stock. Our Long Term PowerRatings find stocks that exhibited the characteristics most likely to result in steady and strong performance over the long haul. In fact, our statistically relevant testing over the last 12 years has clearly shown that those stocks that have earned a 10 rating have a 81% greater chance to be higher one year later. Those with a 9 rating have proven to possess a 79.1% chance of being higher one year later.
Low rated stocks have shown time and time again that they are simply too volatile and risky for your long term portfolio. These stocks may make extreme moves in the short term, however, these move can easily be in the opposite direction of your position thus the stocks are not prudent long term investments. What is most powerful about these ratings is that the testing has been done across most market conditions and has proven itself again and again despite wildly diverse economic environments.
Interestingly, all the stocks on the screener today are low rated stocks with a 3 Long Term PowerRating actually being the highest. Let's take a closer look at several of the upgrades today:
Salesforce.com (CRM | Quote | Chart | News | PowerRating) - This internet company guides the sales process for corporations and has just been upgraded from a 2 to a 3 Long Term PowerRating. Their second quarter results have been nothing short of stunning with record revenue increase of 49%, cash flow increase of 53% and a company record of 4100 new customers added. It will be interesting to see if the third quarter results coming out later in November will show continued growth. Most interestingly, they are the first ever software company that exceeded a billion dollar annual revenue run rate. Technically, the company has bounced off a low around $25.00share and looks to be consolidating around the $30.00/share level. Price is still way below the 50 and 200 day Simple Moving Averages.
Chiquita Brands (CQB | Quote | Chart | News | PowerRating) - A farm products company best known for bananas has just been upgraded from a 1 to a 2 Long Term PowerRating. They seem to be slowly improving fiscally and stronger banana sales offset losses in the salad division. Technically, the stock has been in a severe downtrend.
Westlake Chemical (WLK | Quote | Chart | News | PowerRating) - A specialty chemical company that was just upgraded from a 1 to a 2 Long Term PowerRating. They make polymers, vinyl, and fabricated products. Technically, the stock seems to have found a base around $14.00/share; however things are not looking real positive on the fundamental front.
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David Goodboy is Vice President of Marketing for a New York City based multi-strategy fund.
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The Connors Group, Inc. ("Company") is not an investment advisory service, nor a registered investment advisor or broker-dealer and does not purport to tell or suggest which securities or currencies customers should buy or sell for themselves. The analysts and employees or affiliates of Company may hold positions in the stocks, currencies or industries discussed here. You understand and acknowledge that there is a very high degree of risk involved in trading securities and/or currencies. The Company, the authors, the publisher, and all affiliates of Company assume no responsibility or liability for your trading and investment results. Factual statements on the Company's website, or in its publications, are made as of the date stated and are subject to change without notice.
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