Best Stock Ideas - Week of 2/1/10

It was a tumultuous week at best. The most anticipated earnings announcements by Apple and Amazon did not disappoint but sell-the-news theme which started the previous week only intensified.  But then again, was anyone really surprised they beat the street estimates?  The tech sector clearly has been leading the market downward but there really was no hiding place at all even in other sectors, including healthcare and staples.  I think the volatility is here to stay for a while so stay defensive; don't add big positions, have stops in place, etc.  Nothing wrong with cash at times like this.  With that said, market is in a grossly oversold state as indicated by the McClellan Indicator (it finished at -93% on Friday, a level rarely seen) so there is a high probability of a quick rally at some point.  I would use any rally as an opportunity to raise some cash if you have not been taking profits on the way up.

Trading Ideas for the Week of 2/1/10

If you are a BULL - AMGN, HOC, STI, USB, GILD, HUM, ILMN

If you are a BEAR - I found lots in the retail sector: COH, RTH, JWN to name a few.  Others - APA, JNJ, LLY, GDI, JNPRCPB, PEP