The market internals were strong Tuesday, and the screened stock ratio climbed to 21.6 to 2.7 favoring buying, the estimate of market risk remains low. BUT, as we have seen, when the screened stock ratio climbs like this, we tend to see heavy profit taking on the open the following trading day.
Strong groups; biotechs, computer services, gaming, homebuilders, software, semiconductors and select retail. Software was particularly strong Tuesday.
Longs to watch: ABI, BORL, CEFT, CTEC, GE, INTL, NMTC, TMCS, VIP and WLP.
Good Trading!!
Sam savvy-trader.com |