The market internals were mixed to negative. And the screened stock ratio saw a little more volume in both the up trending stocks as well as the down trending stocks, at 4.3 to 3.8 favoring buying, risk remains moderate. And again, "lite" mode is the safest trading until we see some direction.
Biotechs remain the strongest group. What appears to be cash moving into small caps has resulted in a much higher than usual stocks with a low float coming up on our screening. If you trade these, I'd do it with fewer than your normal trade size to cover the extra risk. DGIN from yesterday's list, and from today's, has done well, but we've seen (owned), stocks with floats of this size take just as sharp drops without giving traders an escape, or just taking out stops and returning back up. A float of 15 million shares or less is our usual cut-off point. DGIN has 12.9 million.
Long: AAI, ARA, AZO, CYTC, DRIN, GNTA, LTBG, MCO, NLY and SAFC.
Good Trading!!
Sam
savvy-trader.com |
