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Strategies & Market Trends : Strong Industry Groups - Strong Stocks

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To: Sam Raven who started this subject4/19/2001 1:28:27 AM
From: Sam Raven   of 1567
 
So where do we go from here? Though I'm expecting some backing and filling (some stocks have gone up from 50 to 100% or more off the bottom), I wouldn't fight either the trend or the fed, and they both favor the longs. The market internals became positive on good volume. The screened stock ratio was better than we have seen for weeks at 11.7 to 2.5 favoring buying.

Despite the sharp spike in many tech stocks today, many have not broken their 50 day moving average, and I'm cautious about putting them on the watchlist until they have seen some profit taking and then bounced back. We've added a few of the better looking techs along with a good mixture of non-techs that are in an up-trend.

Long: ASMI, AXE, DORL, DNY, ESA, EXEL, GLC, HOTT, IDTI and TEVA.

Good Trading!!

Sam
savvy-trader.com
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