Friday may provide another panic at the open since AAPL, NETP and VRLK all warned after the close. Watch for good stocks that get taken down with the rest of the market to make bounces. Otherwise, we saw a nice improvement in the market internals today. We could use a few more days of the same, but things are heading in the right direction. No reaction or a quick recovery to the earnings warnings may indicate we are moving out of this corrective phase. (We are still cautious however)
Friday's longs: CHKP, SRM, ORBK, AVNT, ANN, INFS, and DSGX.
Shorts: OO (again), CAH, ONXS, JNJ, DLTR, OXHP and TKLC.
Good Trading!!
Sam
savvy-trader.com |
