Sabrient Select Opportunity Virtual Portfolio
Buy XRTX
The market gave us a gap up bull trap this morning. Some technicians have called a bottom for the year, and this is just testing that bottom. Others are looking at the 50-day moving average crossing down through the 200-day moving average (which the SPY has done intraday today) as the start of a waterfall decline.
In any case, XRTX is a well-positioned stock that is showing fantastic value right now and is very oversold. It should find support in this range even if the market sells off further, but should also lead if the market goes higher.
Xyratex is a provider of modular enterprise-class data storage solutions and storage process technology. It carries a STRONG BUY rating in the Sabrient Ratings Algorithm, a Company Outlook rank of a near-perfect 99.9, and a Value Score of 80.
I am adding it to the Select Opportunity Virtual Portfolio at a price of $12.30.
Best Regards,
Scott Martindale
Senior Managing Director
Sabrient Systems, LLC
SelectOpportunity@sabrient.com