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6 Stocks to Sell in September

The near-term trend is down, and these stocks are dangerously overpriced

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Stock to Sell #1 – Cognex Corp. (CGNX)

Cognex Corp. (NASDAQ:CGNX), a producer of machine vision products that capture and analyze visual information to automate tasks primarily in manufacturing processes, is estimating that earnings for 2012 will fall to $1.55 from $1.63 last year. Analysts have recently reduced their targets and earnings estimates due to the continuing global economic slowdown.

Technically the stock bounced from about $30 in July to over $36 where it turned back from its 200-day moving average. Sell CGNX if you own it and sell it short if you are a trader. The downside trading target is $30.

Short-selling is a high-risk, speculative technique, so a stop-loss order should be used. And check with your broker for any special margin requirements.

CGNX Chart

Trade of the Day Chart Key

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