The volume problems may have polluted the data for the market internals, but they did weaken Friday, as did the screened stock ratio, at 3.0 to 1.8 favoring buying. The market seems to be at a turning point, looking down. Caution is still warranted as the market risk goes to moderate. Between the economic news and the earnings warnings, we could see a volatile week ahead.
We still have a couple tech stocks showing up on the screening, but trade them with caution. Biotechnology and select retailers moved back to the top in the screening.
Long: AMD, ANTC, BBY, COF, CVD, GLGC, MIKE, ORI, PPL and VSAT.
Good Trading!!
Sam
savvy-trader.com |
