Interesting that the market internals bounced today, but didn't recover what was lost on Wednesday. The screened stock ratio, on the other hand, improved again, to a very strong 25.5 to 4.8 favoring buying, the estimate of market risk remains low. I hoped to pick watchlist stocks that were not to close to resistance, or that will come down hard on profit taking, we'll see.
Strong groups remain; computer services, gaming, homebuilders, software, restaurants, semiconductors and select retail. Biotechs are dropping fast, and don't look to do much better tomorrow.
Longs to watch: APOL, DFXI, DHI, DLX, DRI, LGND, MNTG, POSS, STK and USTR.
Good Trading!!
Sam
savvy-trader.com |
