Believe it or not the NYSE stocks are holding up surprisingly well, giving us the 11th consecutive day of mixed market internals. However, the NYSE stocks continue to deteriorate. The screened stock ratio remains negative at 10.8 to 5.8 favoring selling. Market risk remains high. The strong groups remain the same, biotechs, insurance, medical equipment, and specialized retail. However, being that the market risk is high, "lite mode" remains the order of the day, so be cautious, if you trade at all.
Longs: BVF, ESCM, FE, FHCC, GILD, RSG and VLO.
Good Trading!!
Sam savvy-trader.com |