After having seeing sharp losses in the indices, I was a bit surprised to see the market internals end up mixed, as opposed to much weaker. The screened stock ratio declined relatively sharply, however, it remains positive at 9.0 to 6.7 favoring buying. Risk remains moderate. This is still a buy on weakness range, but, we are rapidly closing in on a negative ratio. Hopefully the watchlist will continue to provide good trades, despite the indices.
Strong groups; biotechs, computer services, gaming, homebuilders, software, semiconductors and select retail. Still more energy stocks showing up in the screening.
Longs to watch: APA, BBBY, CC, CECO, CSGS, DVA, ITT, GDT, TWAV and VIP.
Good Trading!!
Sam
savvy-trader.com |
