I sure hope someone bought AZO yesterday or today, actually I wish it was us <g>.
The market internals continue to sink (or stink), along with the indices themselves. And the screened stock ratio is negative at 9.2 to 2.0 favoring selling, risk moves up one more notch to high. Remain in "lite" mode as the volume is moving out of the down trending stocks much more than into the up trending stocks.
Biotechs, drugs, healthcare and REIT's are the strongest groups. There should be long plays, but play lightly. A few potential shorts we are watching include MDT, PNW and SPOT.
Long: BBI, CYTC, DRMD, EBAY, FRX, GM, LNCR, PFE, SWC and TCO.
Good Trading!!
Sam savvy-trader.com |