Weekly Watch List

QIHU (9/8/13, -1.88%)

Additions:
None

Subtractions:
SBUX (11/24/13, +0.14%)

Last week the major U.S. indexes ended mixed. The NASDAQ jumped 1.71%, the DJIA added 0.13%, the S&P 500 inched up 0.06%, and the NYSE Composite faded 0.27%. The IBD outlook remains at “confirmed uptrend”. The NASDAQ shed distribution, the S&P 500 picked up distribution, and the overall market distribution levels remain elevated. The economic news highlights for the upcoming week will be the second look at Q3 GDP on Thursday and November’s employment situation report on Friday. The ongoing rally has been treading water recently, searching for definitive direction, and could quickly make a significant move in either direction. Pay attention and be prepared for anything as normal trading resumes.

This week QIHU is not near a proper buy point.

/as usual, your mileage may vary, always do your own homework

Making money off this Watch List? Feel free to tip the dealer!

Weekly Watch List

QIHU (9/8/13, +4.24%)
SBUX (11/24/13, +0.00%)

Additions:
SBUX (11/24/13, +0.00%)

Subtractions:
None

Last week the major U.S. indexes barely nudged ahead. The DJIA added 0.65%, the S&P 500 gained 0.36%, the NYSE Composite crept up 0.16%, and the NASDAQ inched forward 0.14%. The IBD outlook remains at “confirmed uptrend”. There was no new distribution added last week but the overall market distribution levels remain elevated. In the holiday shortened week ahead, expect to see low volume and volatility. Make sure you have an exit strategy in place in case the markets turn south when normal trading activity resumes. Continue to ride your winners and, although high quality stocks are mostly extended, keep looking for secondary entry points. Enjoy your Thanksgiving and be sure and count your blessings.

This week neither of the watch list stocks are near a proper buy point.

/as usual, your mileage may vary, always do your own homework

Making money off this Watch List? Feel free to tip the dealer!

Weekly Watch List

QIHU (9/8/13, +5.78%)

Additions:
None

Subtractions:
None

Last week all the major U.S. indexes moved higher. The NASDAQ jumped 1.70%, the NYSE Composite climbed 1.57%, the S&P 500 added 1.56%, and the DJIA gained 1.27%. On Wednesday, the S&P 500 set a new record high on good volume and the IBD outlook improved to “uptrend resumes”. The S&P 500 also picked up another distribution day on Tuesday and the overall market distribution levels remain elevated. The market continues its meandering melt up with multiple indexes notching record highs. Don’t try to second guess this slow motion rally, continue to take the gains being given, although be prepared to change direction quickly if the already substantial distribution gets any worse. Stay disciplined and don’t chase extended charts, only consider buying high quality stocks in proper buy ranges.

This week QIHU is not near a proper buy point.

/as usual, your mileage may vary, always do your own homework

Making money off this Watch List? Feel free to tip the dealer!

Weekly Watch List

QIHU (9/8/13, -4.54%)

Additions:
None

Subtractions:
None

Last week the major U.S. indexes ended mixed. The DJIA tacked on 0.94%, the S&P 500 gained 0.51%, the NYSE Composite added 0.14%, and the NASDAQ faded 0.07%. The NASDAQ and S&P 500 both racked up additional distribution and after Wednesday’s significant downdraft on higher volume, the IBD outlook slipped to “uptrend under pressure”. Down days are coming on higher volume and up days are coming on lower volume, exactly the opposite of what Bulls want to see. For now, it’s best to avoid making new purchases and start lightening up on your long exposure. Consider booking some profits, even small ones. Above all, don’t let any gains turn into losses and don’t take a loss of more than 7-8% on any position.

This week QIHU is not near a proper buy point.

/as usual, your mileage may vary, always do your own homework

Making money off this Watch List? Feel free to tip the dealer!

Weekly Watch List

QIHU (9/8/13, +4.07%)

Additions:
None

Subtractions:
GNRC (10/27/13, -5.57%)

Last week the major U.S. indexes finished narrowly mixed. The DJIA added 0.29%, the S&P 500 inched up 0.11%, the NYSE Composite faded 0.36%, and the NASDAQ gave up 0.54%. The IBD outlook remains at “confirmed uptrend”. The NASDAQ and S&P 500 added more distribution days and, although the distribution is not yet significant, the current uptrend, so far, lacks any discernible institutional buying conviction. This week the economic news highlights will be the first look at Q3 GDP on Thursday and the October employment situation report on Friday. Most leading stocks are still extended from proper buy points. Keep your watch lists updated and continue searching for new breakouts and scanning for secondary buy points. If the uptrend isn’t giving you anything to buy at the moment, be patient and wait for solid opportunities to present themselves. Don’t violate your investing discipline just for the sake of “getting in” the market.

This week QIHU is not near a proper buy point.

/as usual, your mileage may vary, always do your own homework

Making money off this Watch List? Feel free to tip the dealer!

Weekly Watch List

GNRC (10/27/13, +0.00%)
QIHU (9/8/13, +2.00%)

Additions:
GNRC (10/27/13, +0.00%)

Subtractions:
None

Last week all the major U.S. indexes stumbled higher. The DJIA gained 1.11%, the S&P 500 tacked on 0.88%, the NASDAQ added 0.74%, and the NYSE Composite inched up 0.69%. The IBD outlook remains at “confirmed uptrend”, although the NASDAQ picked up two distribution days. This week investors will continue to digest what has, so far, been a moderately positive earnings season. The primary, scheduled economic news will the FOMC announcement on Wednesday. Don’t chase extended stocks, keep watching for secondary buy points and new breakouts of top quality stocks out of proper bases.

This week neither of the watch list stocks are near proper buy points.

/as usual, your mileage may vary, always do your own homework

Making money off this Watch List? Feel free to tip the dealer!

Weekly Watch List

QIHU (9/8/13, +13.95%)

Additions:
None

Subtractions:
GNRC (9/22/13, -5.55%)

Last week all the major U.S. indexes gained ground. The NASDAQ vaulted 3.23%, the S&P 500 jumped 2.42%, the NYSE Composite rose 2.28%, and the DJIA added 1.07%. IBD upgraded their outlook to “confirmed uptrend” after Wednesday’s legitimate follow through day on the S&P 500. This call can also be justified as the NASDAQ moved to a new high. The good news is, with the political clown parade off the stage for the time being, it’s a green light to start buying leading stocks in proper buy ranges. The bad news is that most leading stocks are now well extended from proper buy ranges. Stay disciplined and don’t chase, look for secondary buy points to ease into a new position and keep scanning for new breakouts. Also, we’re into another earnings season, so resist the temptation to buy a stock right before it reports. Sure, there’s the potential for a price spike on a good report, but you can also get clobbered on poor earnings, sales, or guidance. It’s a better strategy to let the earnings news shake out and then play the stock price where it lies after the report.

This week QIHU, trading at $94.67, is still in secondary buy range up to $98.94 after successfully testing the ten week line, otherwise it’s 166% extended from a 2nd stage cup base, so be careful here.

/as usual, your mileage may vary, always do your own homework

Making money off this Watch List? Feel free to tip the dealer!

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