The market internals weakened a bit Friday, but Thursday was so strong that it makes sense. The screened stock ratio also backed down from very bullish numbers to 10.8 to 1.9 favoring buying. The market risk remains low, we may see some continued profit taking on the more over bought stocks.
We are seeing a lot more insider buying in the stocks showing up on the screening. This may have good implications for the future. As usual, we try to have a good mix of stock groups on the watchlist. But as you can see the Electronic/technical Instruments group had the most strength again last Friday, and has the preference on the watchlist. Add the biotech/medical sectors, and the energy sector, and it covers 90% of the stocks in the screening.
Long: AEM, APH, APCC, AXE, EVG, ILXO, QLGC, SEAC, STJ and TECH.
Good Trading!!
Sam
savvy-trader.com |
