It was a good day today, despite my cautious approach, but the market internals and the screened stock ratio are both still negative, so it is best to cool your heels in "lite" mode again. The screened stock ratio was 5.2 to 3.3 favoring selling. Risk remains at high.
We definitely had a more normal screening pattern with pretty much the same stock groups that have been strong the last few weeks, biotechs, healthcare, banks and S&Ls, insurance, medical supplies and select retailers.
Note that we have a position in UNH on the watchlist today.
Long: APOG, APOL, CTXS, HRC, MCK, MCHP, MVSN, RSG, UHS and UNH.
Good Trading!!
Sam
savvy-trader.com |
