In the end, the only thing that could be predicted with reasonable assurance was the volatility. By managing that, you managed your risk. In order to have profited in a stock by holding during the interest rate policy announcement, you would have to have been correct about both the amount of the cut, and the market's reaction. Cash was capital preservation.
The market internals improved, with a little higher volume. The screened stock ratio went the other way at 7 to 4 favoring selling. Lots of the market wizards see further selling following yesterday, be it selling on the news or profit taking on January's gains. If it happens, it spells opportunity.
The watchlist is spread out again, should be something moving, even if the technology stocks slide. There was not any dominate sectors, but energy stocks may be the rising group.
Longs: ACDO, BJS, CDN, DOX, LLL, MHP, NSIT, PHSY, OPTV, WFT and WFII.
Good Trading!!
Sam
savvy-trader.com |
