The market internals seem to be in a slow decay, weakening another notch Monday. The screened stock ratio remained negative, but there was little conviction on either the bulls or the bears at 3.6 to 2.7 favoring selling. This leads me to think we may open weak but see a rebound Tuesday.
We put a token semiconductor on the list, but overall the oil stocks dominated the screening. The banks recovered fast and there are several to watch again tomorrow.
STJ looked like the best of the stocks off support today, we didn't play it however. DYN which was sitting close to the support price on the open, took off from the beginning. Tomorrow we'll target support prices in the following up-trending stocks that have dropped back and may hit support during the day. AVX, EBAY, EFX, HOTT, LSI, MCDT, MVK, PSEM, SVGI, TTEK, TQNT, and VSH.
Long: BOH, BKH, DG, MRO and SERO.
Good Trading!!
Sam
savvy-trader.com |
