Looks like we are going to have to sit out another day or two in "lite" mode. The market internals and the screened stock ratio, (5.0 to 1.1 favoring selling), are both negative. Risk remains at high.
A spattering of stocks held on through Friday's sell-off, the most defensive positions appear to be in insurance stocks. I'd sit back and see how this plays out, once we start getting earnings released (Wednesday), we may see the market resilience come back.
Today Comcast made a 58 billion dollar offer for AT&T's broadband business. This may fire more possible merger speculation in companies like Cox Communications (COX), Charter Communications (CHTR), and Adelphia (ADLAC).
Longs: ACF, AHG, AW, CCR, ICCI, NYCB, ORI, STE, TGH and WLP.
Note that we have a position in TGH.
Good Trading!!
Sam
savvy-trader.com |
