Today's edition of PowerRatings Good Bad and Ugly features the usual suspects of continuing pullbacks and mid-day reversals. These are the stocks whose intraday movement has made a significant impact on their Short Term PowerRatings, and helped tip off traders on Thursday as to what some of the better opportunities might be come Friday.

The Short Term PowerRatings of stocks fluctuate all the time, and the PowerRatings you see are a snapshot taken as of the close. While this is obviously an important starting point when trading with Short Term PowerRatings, the fact that PowerRatings are dynamic and change as the stock changes can open up opportunities for traders looking to trade stocks just as their PowerRatings move into the "consider buying" zone.

There are three different types of stocks that we like to look at in the PowerRatings Good, Bad and Ugly column. The first are the Good, those stocks that began the trading day with a high Short Term PowerRating and maintained that high Short Term PowerRating late in the day.

The Good stock for today was clearly Tredegar Corporation (TG | Quote | Chart | News | PowerRating) with its Short Term PowerRating of 9. Tredegar maintained its 9-rating even though strength in the stock on Thursday helped lessen the exceptionally oversold character of the stock. Beginning the day with a 2-period RSI of 10.50, TG ended the day with a 2-period RSI of a decidedly neutral 45.

Significantly, though, the stock remains below its 5-day moving average as of the Thursday close.

The Bad stock for today? Bad stocks are stocks that start the day with high Short Term PowerRatings, but end up with downgraded ratings by the end of the session. These stocks are “Bad” not because they are money losers necessarily. Sometimes a stock's PowerRating will be downgraded because the stock has become less oversold. But from the perspective of a buying opportunity, a stock that has moved higher is not as good a trade as a stock that has moved lower, all else equal.

The Bad stock for today? Cavco Industries (CVCO | Quote | Chart | News | PowerRating) which began the day with a Short Term PowerRating of 8, found itself with a PowerRating of 5 less than an hour before the close. Like Tredegar Corporation, shares of Cavco Industries also saw a dramatic jump in its 2-period RSI over the course of Thursday. Beginning the trading day with a 2-period RSI of 12.89, CVCO ended the day with a 2-period RSI of 69.27.

Our last stock for the day falls into the Ugly category. If a "bad" stock is one that starts with a high PowerRating and then has its PowerRating downgraded, an Ugly stock is a stock that starts off with an average Short Term PowerRating, but has that PowerRating downgraded all the way to the "consider avoiding" territory of the 3-, 2-, and 1-rated stocks.

Our Ugly stock for the day is Bronco Drilling Company (BRNC | Quote | Chart | News | PowerRating). Understandably--for a stock that is a poor buying candidate--BRNC has a high 2-period RSI of more than 86. This, under the right circumstances, is closer to the 2-period RSI of a stock we would consider selling short than it is to a stock we would consider buying.

Shares of Bronco Drilling Company began the trading day on Thursday with a Short Term PowerRating of 5 and had its PowerRating downgraded to a 3 within an hour of the close. While 3-rated stocks are not as good for selling short as stocks with Short Term PowerRatings of 1 or 2, stocks with Short Term PowerRatings of 3 should be avoided by traders looking for stocks that are likely to be higher

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David Penn is Senior Editor at TradingMarkets.com.