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As S&P 500 hits record highs, one-fifth of its stocks are still in a bear market
One-fifth of S&P 500 still in a bear market, but these stocks could rebound
is sitting at record highs, but not every stock is participating in the rally.
, along with 89 other stocks, have each fallen by at least 20 percent from 52-week highs, pushing them past a correction and into bear territory.
One of those stocks, Twitter, may soon break out from the rest, according to
"A lot of it has to do with just the near-term progress," Newton told CNBC's "
" on Thursday. "The stock had had a very severe pullback over the last few months and it started to bottom out and then recently just this week the stock has really made new four-week highs." Mark Space Ratio
Twitter sold off sharply at the end of July into August after reporting a drop in average monthly users. Since its earnings report on July 27, its shares have plummeted 20 percent. From its mid-July high, it has tanked nearly 30 percent.
"The stock had broken out and then pulled back and [is] consolidating so I see the stock getting back to the mid-to-high $30s," added Newton.
Since its late July sell-off, the shares have held in a range between $30 and $35. They were trading around $44 before its earnings report.
, president of Strategic Wealth Partners, said a different stock among the rest looks primed for a breakout.
"How can you not love Celgene right now? It's a monster player in the biotech space with a forward PE of 10 and a PEG ratio of only 0.5 which is just crazy ridiculous," Tepper said Thursday on "Trading Nation." "It suggests that it's severely undervalued."
Its price-earnings ratio at less than 10 is at a discount to the
's 16 times multiple. Its price/earnings growth, or PEG, ratio, which measures price against valuation, is also below the rest of the sector.
Celgene's shares are nearly 40 percent lower than a 52-week high set last October. The stock had plummeted last year after announcing it had discontinued a study for one its developmental drugs targeting Crohn's disease.
"The tide is turning for Celgene who has been unfairly punished since last October and investors have an opportunity to own a terrific company at a steep discount," added Tepper.
Celgene is down nearly 14 percent so far this year, while the XLV ETF has added 11 percent.
Not a Scientific Survey. Results may not total 100% due to rounding.
Five Tesla experts on what happens to the stock after Elon Musk gives up on going private
Here's what five experts had to say about what investors should expect from Tesla and its headline-stealing CEO.
Advanced Micro is up more than 145% this year and could have more room to run
Advanced Micro Devices is the hottest stock of the year. One technician sees the possibility of a move back to levels not seen since June 2006.
Watch five market experts explain what investors should do next as stocks hit all-time highs
Here's what five market experts had to say about what investors should do with stocks hitting record highs.
After Netflix's best week since January, the charts suggest its recovery has legs.
This little-talked about correlation suggests bitcoin may end year 'explosively higher': Tom Lee
Specialty retailers surge, and two stocks could bounce even higher on earnings
As S&P 500 hits record highs, one-fifth of its stocks are still in a bear market
Chip stocks are rallying, and one trader sees a bigger breakout
Ride out the bull market until these three major recession indicators come into play
Chinese tech’s rebound just stopped short, but market watcher still favors one stock
Ex-Dow stock GE could drop another 50 percent before recapturing old highs, market watcher says
Five stocks have been left out of this historic bull market. One looks set for a comeback.
Longest bull market on record is cracking as 'artificial support' fades, David Rosenberg warns
Alibaba sales surge. One trader sees this as just the beginning.
Record rally could fold as trade tensions persist, Stephen Roach warns
Wall Street is dangerously underestimating trade tensions, according to Yale University senior fellow Stephen Roach
Cash to be ‘very good place’ if trade tensions linger, Stephen Roach warns
Yale University senior fellow Stephen Roach believes the U.S. is a long way off from resolving trade feud with China.
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As the MTUM momentum ETF breaks out to record highs, Ari Wald of Oppenheimer and Michael Bapis of The Bapis Group at HighTower Advisors debate three momentum stocks to buy in this rally.
If a North Korean conflict plays out, this is what will happen globally
Gina Sanchez of Chantico Global says a North Korean attack, should one occur, isn't likely to cause significant long-term market impact.
This under-the-radar report could be crucial for the market
Boris Schlossberg of BK Asset Management says the ISM non-manufacturing report is key to watch ahead the jobs data released Friday.
When the dollar is weak, here's the sector that wins
Chad Morganlander of Washington Crossing Advisors is watching the dollar this week and expects it'll begin to strengthen heading into the second half of the year.
Stacey Gilbert is the head of derivative strategy at Susquehanna.
Managing Director, Head of Technical Analysis, Evercore ISI
Trading Nation is a multimedia financial news program that shows investors and traders how to use the news of the day to their advantage. This is where experts from across the financial world – including macro strategists, stock-pickers Mark Space Ratio , stock-pickers, and traders who specialize in options, currencies, and fixed income – come together to find the best ways to capitalize on recent developments in the market. Trading Nation: Where headlines become opportunities.
Sara Eisen joined CNBC in December 2013 as a correspondent, focusing on the global consumer. She is co-anchor of the 10AM ET hour of CNBC's "Squawk on the Street" (M-F, 9AM-11AM ET), broadcast from Post 9 at the New York Stock Exchange.
In March 2018, Eisen was named co-anchor of CNBC's "Power Lunch" (M-F, 1PM-3PM ET), which broadcasts from CNBC Global Headquarters in Englewood Cliffs, N.J.
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