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Shocked that companies and mutual funds would invest OPM (Other People's Money) in high-risk investments, the Shocked Investor was originally on a mission to find out if our money ended up in these dubious instruments. This blog now also discusses other financial topics, such as straddles, options, gold, natural gas, agri/food stocks, and the collapse of the US Dollar.
With the S&P500 very overextended into overbought territory, here are the most overbought companies in the entire S&P500, by RSI7 and RSI14:
(please click to enlarge)
The RSI7 and RSI14 averages of all companies are 57.95 and 55.98 respectively. The SPY itself is at 63.91. Other indeces, including XLF and IWM:
Prices as of EOD Friday May 29.
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