Just as we were at the edge of going into "lite" mode, we got a market rally pulling the deteriorating market internals back up, as well as spiking the screened stock ratio at 18.8 to 1.9 favoring buying. Risk drops back down to low.
I tried to select stocks out of the screening that may not get the profit taking as some of those that have had multiple point gains in just a few days. Like GNSS, which we alerted Tuesday at $49.40 then again Wednesday at $53.39, now at $58.20, I'd be afraid it might alert at a high.
It seems there is a choice of watching a group of very strong stocks (GNSS, THQI, MRCY etc.) and have one or two continuing up and the rest coming down hard, or watching those that haven't had such a dramatic gain, and get more movers (more opportunity)....guess we'll see.....and actually we'll have them all on the watch screen today.
Strong groups; biotechs, gaming, HMO's, computer software, health insurance, medical equipment, semiconductors and select retail.
Longs to watch: APOL, BSYS, CBRL, GIS, GTK, HD, HLYW, MHK, THC and VIP.
Good Trading!!
Sam
savvy-trader.com |
