Hope everyone had a nice weekend, we managed to keep very busy. Earnings will be quiet this week, but don't forget earnings warnings will start getting the headlines soon.
The market internals were mixed again on Friday, and the low volume makes it hard to get much direction out of the screened stock ratio. At 3.2 to 1.0 favoring buying, it is really neutral. I would estimate that the market risk remains low, partly due to the holiday effect and possible lift from the tax cut.
Biotechs and drug stocks hold the top spots in the screening, like usual we try to keep the watchlist diverse, as you should also do in your positions. It seems rather odd to have both an oil and an airline on the same watchlist, but one or the other....or possibly both, can move up.
Long: ABT, APD, CHP, FE, FRX, IRM, KMX, LUV, PENN and TKLC.
Good Trading!!
Sam
savvy-trader.com |
