The market internals were mixed to negative on Friday. The screened stock ratio did improve, and was a surprise on the upside at 11.6 to 3.2 favoring buying, with the ratio improving, the estimate of market risk drops back to low. However, I'm expecting more volatility this week with earnings warnings.
Strong groups; biotechs, gaming, homebuilders, software, semiconductors and select retail. The weekly Journal has more information on the strong groups.
Longs to watch: AGY, BBBY, BBY, CDWC, CPRT, DFXI, ESIO (has earnings after the close, so I wouldn't hold it), GTK, KLAC and TJX. |
