Market internals remain mixed for the third day. But, the screened stock ratio remained positive at 8.9 to 4.6 favoring buying. Market risk remains moderate.
Energy stocks seemed to flame out today. Since I'm expecting more out of them we dipped our toe in the water and took a position in OEI. The strong groups remain pretty much unchanged by the current slide in the market averages. Those groups being, biotechs, banks, real estate, specialized retail, and healthcare. Educational Services stocks like CECO, EDMC and SLM seem to be returning to high ground.
Note that we have a position in ICBC on Friday's watchlist.
Long: BRL, CAKE, CECO, CTX, CVD, ICBC, IFF, PRX, SAH and TJX.
Good Trading!!
Sam
savvy-trader.com |
