It has been amazing how well the market internals have held up. I would still expect them to go negative, but the strength at this point indicates that we won't go too much lower on the indices. However, the screened stock ratio moved back to negative at 9.8 to 3.0 favoring selling. This puts the risk back in the high range.
There were a few strong groups, banks, real estate, retail, and timber, but it may be good day to sit back and look for support point on some of the strong groups that are getting a little correction, like healthcare and medical equipment stocks.
Long ADVP, ARM, CD, CSTR, CVD, ESRX, GPT, HLYW, OIIM, PCL and SPG.
Good Trading!!
Sam
savvy-trader.com |
