The market internals turned back down, but remain positive. The screened stock ratio backed off to 14.0 to 2.7 favoring buying. Risk for tomorrow moves back up to moderate. It still looks like only profit taking, so I expect there will be more good plays.
Strong groups; biotechs, gaming, HMO's, computer software, health insurance, medical equipment, semiconductors and select retail.
Longs to watch: AGY, AJG, APOL, COTT, INTL, KMX, POWI, SMTC, THQI and WLP.
Remember, a potential buy is triggered approximately 20 above the previous days high. However, if it is close the a round number I alert a penny over...so for example; if todays high for XYZ is $20.80 or $20.75, I set the same alert at $21.01 for tomorrow. This is not a fixed rule, if there is a "local" high that looks like strong resistance, I'd set above that.
Good Trading!!
Sam
savvy-trader.com |
