It would be nice if things could be easy, but this is one of those days it is hard to tell which way we could go since the market internals weakened yet the screened stock ratio improved slightly over yesterday at 11.9 to 5.5 favoring buying. I'm inclined to be more bullish because I put more weight in the screened stock ratio, but since it was only mildly improved, I'll leave the estimate of market risk at moderate. Which effectively means buy on the weakness.
Strong groups; biotechs, gaming, homebuilders, software, semiconductors and select retail. It is amazing how much some of the semi's have come back, I was thinking today they have come too far too fast, but these runs can continue beyond reason.....like those security stocks have.
Longs to watch: BBBY, CCUR, CDWC, DHI, ESIO, LE, STJ, STK, THQI and TJX.
Good Trading!!
Sam
savvy-trader.com |
