The market internals turned down with the close of trading for the year 2000, however, because of potential influence of year end window dressing, and tax loss selling, it isn't possible to make any assumptions out it. The screened stock ratio slipped back as well, 8 to 5 favoring selling.
Not many earnings releases this week, but I suspect there will be more earnings warnings, so avoid any stock that is in one of those sectors that have had stocks release warnings.
Friday's trading put a dent in an otherwise good week for the technology stocks, it only supports building a diverse group of stocks in your trading portfolio. The stock screening had a mix of stocks, many fewer energy, and 3 airlines showed up, which often move mirror to the energy stocks.
Longs to watch: APH, ATMI, CIT, DOV, EXFO, MICC, NIS, NWAC, SHRP and PBG.
Good Trading!!
Sam
savvy-trader.com |
