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Strategies & Market Trends : Strong Industry Groups - Strong Stocks

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To: Sam Raven who started this subject4/18/2001 1:10:12 AM
From: Sam Raven   of 1567
 
The market passed the resilience test today and looks to open very strong tomorrow. Will it hold through the day? I think so, and we may get an extra short covering boost. I'd be careful with the techs since they appear to open high, but there has been plenty to trade in several groups, and waiting to see how plays develop later in the morning may reduce the risk of buying at the high.

The market internals didn't show the strength that the average stock had, and the volume wasn't impressive, but it looks like we will see a continuation of this mini-bull for a day or two. The screened stock ratio still reflects slower volume at 2.8 to 2 favoring buying. I'd like to see at least 5 on the buying side by the end of the day.

Long: ADTN, AXE, CA, DYN, HELX, IGEN, ICCI, JKHY, PDS and UNP.

Good Trading!!

Sam
savvy-trader.com
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