Despite the gain in the indices, the market internals continued down. The screened stock ratio did bounce back a little, but not enough to restore my confidence that we are finished with this little correction. The volume continues relatively low with a lack of conviction on which way we are going. The screened stock ratio was at 3.4 to 2.2 favoring buying, which should move us back down to the moderate risk range, however we are going to remain trading in "lite" mode, unless we see some strong buying after the first 1/2 hour.
We tried to keep a good mix for tomorrow, but be careful, there was thin pickings and we added a few with lower floats than we usually like to put on the watchlist.
Long: ANN, AZO, CAKE, DGIN, DTE, EOP, FRX, FOX, IMCL and THC.
Good Trading!!
Sam
savvy-trader.com |
