The market internals continued to improve last Friday, we got the support when earnings of higher profile companies started to be released, just as we did during the last two earnings seasons. With all the earnings coming out this week it should make for an interesting one. The screened stock ratio is also still positive, though slightly weaker than Thursday, at 9.5 to 5.8 favoring buying. Risk remains low.
The biotechs strengthened Friday, but didn't regain their foothold in the strongest groups. Banks, computer services, insurance and software held the top spots. Homebuilders remain strong.
Note that we have that same position in TGH.
Long: ATVI, AW, BBC, CTXS, ESRX, HCR, LOW, MTG, MXT and QTRN.
If you don't mind stocks with a low float, RCII may be worth watching today.
Good Trading!!
Sam
savvy-trader.com |
