The market internals were improved a little more. The screened stock ratio evened out at 5 to 5. It is hard to make a bullish argument out of this. The best sign is that the market response to the poor earnings news the last few days has been positive. Some are saying this short covering, to me it looks a little broad. Having said that, we have had a couple good days in a row, having three would almost qualify as a stand-alone bull market <g>, and just the weight of the last couple months is against it. Lastly, it is bit disconcerting that after a couple up days we didn't get enough buying volume to push the buying side of the stock screening over 10. I'd remain in "lite" mode again tomorrow.
Still no slowdown in the oil stocks, they remain as the group with the highest number of stocks represented in the stock screening. Interestingly, the biotechs and medical stocks have dropped from sight.
Longs: ACF, ANF, AVNT, GLC, KEA, LAB, LIN, TTEK, UDS and UTEK. |
