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Strategies & Market Trends : Strong Industry Groups - Strong Stocks

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To: Sam Raven who started this subject8/3/2002 6:46:03 PM
From: Sam Raven  Read Replies (1) of 1567
 
I ran both the short term and the breakout screens for long trades on Monday, not much of a surprise, but no stocks showed up on either.

The list of shorts included 9 stocks on the screening. Two semi related, CREE and SLAB, and the rest biotech/pharmaceutical, ALXN, HGSI, ITMN, MEDI, NPSP, OSIP, and VRTX.

The bio/pharm stocks have had the most run up the recent rally, with the weakest fundamentals supporting that move. I still believe that those groups are going to be one of the strongest the rest of this year, but if we are going to see continued sliding in the market these have some room below them.

Sam
savvy-trader.com
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