The ray of hope Monday, the fewer number of new lows in the NASDAQ, was dashed against cold marble of Wall Street. So we are left only with the Volatility index as the hope for a bounce tomorrow. The market internals and the screened stock ratio remain very bad, the screened stock ratio was at 12 to 2 favoring selling. Again, this is still very negative, and I would sit in "lite" mode.
The largest members of any group on screening was electric utilities, which isn't saying much for market. Note that we still own shares of FHCC.
Longs: AEP, ADVP, EQT, FNM, HSIC, MUR, NEM, NVDA, MYL and PRGO.
Good Trading!!
Sam
savvy-trader.com |
