Traders Avoid Down Stocks On Big Days (YRCW, HAYZ, HSII, PEP, KO, RACK, RBS)
Posted in General by: adminOctober 14th, 2008
Traders hate chasing losers. Frequently the worst calls on the street are the ones where traders chase losers when the broad market is up.
Today there is a surprise drop in YRC Worldwide (NASDAQ: YRCW) down almost 8% at $5.45. Amazingly, that isn’t even a 52-week low. Fitch lowered the debt ratings and credit quality here.
We covered six other losers today over at 24/7 Wall St. with full details on each one:
- Hayes Lemmerz International Inc. (NASDAQ: HAYZ)
- Heidrick & Struggles International Inc. (NASDAQ: HSII)
- Pepsico, Inc. (NYSE: PEP)
- Coca-Cola Co. (NYSE: KO)
- Rackable Systems (NASDAQ: RACK)
- Royal Bank of Scotland Group Plc (NYSE: RBS)
Jon C. Ogg
October 14, 2008
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