Here's a list of basic material stocks down 10-20% for the week. We think the sell-off is getting short-term overdone and will be looking for support bounces in stocks not directly associated to the oil spill (so no BP RIG APC CAM HAL, etc) but which are suffering from collateral damage. Also some steel and coal stocks could be ripe for a bounce. To be clear -- we never buy the low and average down. We put alerts on places we think a stock will bounce, wait for buyers to show up, wait for reversal, and enter on the bounce with stop below.
