Both oil and the financials ended positive on the day. Financials performance was a bit weak in my estimate, but not too terrible. They're still right around a support level at 19.60/19.80, but I'm not putting too much weight behind that. I was more impressed by oil's rally after being down hard early. Even though it got burnt on oil inventories, it rounded out, and rallied straight out into the close. I don't want to be a victim of another oil fake out, but things are looking slightly better in that market--maybe its time for a nice snapback rally. KBR might be a good way to play it. It's been taken down with oil but looks like it has support at around 22 and could move up from here.
I'm also watching NVTL and MENT. Snapback plays have been incredibly persistent lately. ZMH, HOLX, BF/B, MRK are all examples. MENT has already started to move but may have more juice. NVTL might have a day or two more down, but could stabilize after.
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