The NASDAQ still seems out of whack by what I could see today, but the internals are still positive, however weakened. The screened stock ratio is still positive, but also not a strong number at 9.2 to 6.8 favoring buying. Risk is in the low range. By what I saw in the trading of those warning companies, there didn’t look like any that would result in a market slide tomorrow.
We may have overdone the biotechs this time out, but they still remain the strongest group overall. Banks and S&L's came on strong Monday. Otherwise some healthcare, insurance and retail round out the rest.
Note that Tuesday the NASDAQ and the NYSE close at 1:00 PM ET and remain closed Wednesday for the Independence Day holiday.
If you travel have a nice trip and stay safe....I'll be checking back here if you have any burning questions.
Long: AIG, AGN, BBY, BSYS, CEGE, CEPH, GPC, HOMS, MW and SNV.
Good Trading!!
Sam
savvy-trader.com |
