Things look to start down in the morning, I'm hoping to see this as a test where we see the indices go down, yet the market internals hold up relatively well. Emphasize relatively, as the internals started to decay today. We may see some nice bounces on stocks gapping down, which is what I'd expect if this is just a re-building phase and not a resumption of the correction.....guess we'll see.
Like yesterday, the picks were hard to make and it seemed there was something I didn't like about most of them. We had a lot take off this morning but, with the exception of TXT, most had lost the best part of their gain. The gap plays as well.
Long: ATMI, BCR, SLTC, BCHE, TGH, NTLI, BDK, ITXI and MAS.
Short: ADSK, SMTC, MRVC, NBL and LNCR.
We should get one or two ups and one or two downs out of these, no matter what the market does. Again, set an alert 1/4 above today's high for the longs and 1/4 below today's lows for the shorts to be sure the stock is going to move.
Good Trading!!
Sam |
