The S&P 500 is trading at new 2009 highs and many stocks are considered to be in overbought territory. Two semi`s stocks top the list, with Advance Micro Devices (AMD) and Nvidia (NVDA) as the most overbought stocks in the S&P 500 Index.
United States Steel (X) is the most overbought stock in the materials complex, followed by Titanium Metals (TIE). Some surprising names on the list are Ford (F) and Southwest Airlines (LUV). These are probably the best stocks to short as the fundamentals of their industries keep deteriorating.
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