I just finished going through Chairman Greenspan's speech again. The market was looking for an excuse to take profits, this was a weak one however.
Nevertheless, it is best to listen to the market.
Market internals were mixed to lower on Friday, not as bad as I was figuring. The screened stock ratio continues to slide to lower levels, yet positive at +2.82 favoring buying, the estimate of market risk remains moderate.
Strong groups include; computer services, computer peripherals, computer memory devices, Internet ISP's, gaming, homebuilders, software, restaurants, semiconductors and select retail.
Stocks to watch for support: APOL, BBBY, GDT, HRB and TJX.
Good Trading!!
Sam
savvy-trader.com |
