TiVo Rallies Back To Positive (TIVO)
Shares of TiVo Inc. (NASDAQ: TIVO) have recouped all of their earlier session losses and are now trading solidly in positive territory, up 1.31% to $8.53. Observing the action in TIVO today belies a potentially profitable concept as the markets get rocky.
Some stocks have already become so oversold, that they will rally even in the face of a very weak market. On Tuesday, TIVO is a good example of this.
Nvidia (NASDAQ: NVDA) is another one. Stocks are like rubber bands - when they get stretched too far in one direction, a snapback is likely. TiVo, for example, had been sold aggressively, day after day, throughout much of April. Short-term traders should look for similar overbought situations for a quick pop if the markets continue to fall in the coming days.
