The market internals, while still negative, at least strengthened on Monday. The screened stock ratio was affected by lower volume, but remains negative at at 6.6 to 2.6 favoring selling. The market risk remains high.
Really a mix of group strength, I was surprised at how many biotechs showed up on the screening, they didn't look so good during the trading day Monday. I've added some of the same defensive technology stocks we've been watching recently, (ATK, GD and LMT). However, it might be time to be a little more cautious with them since they have run up a lot in the last few weeks. I still favor healthcare and medical equipment stocks in this market.
Note that we have a position in TTEK on the watchlist.
Long: ACS, ARXX, BAX, BVF, DBD, FHRX, MYL and TTEK.
Good Trading!!
Sam
savvy-trader.com |
