The stock screening again had a mix of stocks, but having only one alert all day (SHRP),indicates the broadness of the market decline. We did have UAL alert because it was one of the airlines that came up, unfortunately NWAC, the one on the watchlist didn't alert.
Interestingly, the communication services group had the largest number of stocks show up in the screening this evening, WCOM, T, FON, BLS, CTL and VZ all came up. A number of banks also showed up, but there was a surprising number of bank, energy and manufacturing stocks on the short screening.
The market internals were down again, but not as bad as they were last time the NASDAQ made a new low. The screened stock ratio was very bad at 10 to 1 favoring selling. Again, we are getting to that oversold category, but "lite" mode is advised on any new positions, especially any technology company.
Long to watch: CFB, APH (again), DPH, EGLS, NEM, PHSY, UAL, TGT, VZ and ZBRA.
Good Trading!!
Sam
savvy-trader.com |
