Weekly Watch List

GNC (3/18/12, +20.95%)
AAPL (4/29/12, +0.00%)
ALXN (7/24/11, +53.54%)
ULTA (4/8/12, -5.70%)
MA (9/24/11, +35.77%)
MNST (10/16/11, +38.89%)
DG (4/8/12, +1.19%)
DLTR (9/4/11, +43.17%)
VRSK (4/8/12, +4.88%)
WXS (4/29/12, +0.00%)
FFIV (4/29/12, +0.00%)
TJX (3/25/12, +9.91%)
NSR (4/29/12, +0.00%)

Additions:
AAPL (4/29/12, +0.00%)
FFIV (4/29/12, +0.00%)
NSR (4/29/12, +0.00%)
WXS (4/29/12, +0.00%)

Subtractions:
NUS (4/15/12, -8.06%)

Last week, all the major U.S. indexes moved higher. The Nasdaq vaulted 2.3%, the S&P 500 gained 1.8%, the NYSE composite tacked on 1.6%, and the Dow added 1.5%. Although the Nasdaq jumped 2.3& on Wednesday, it was only the first day of a rally attempt and a follow through day can only come after day four. It was the S&P 500′s 1.4% move higher on volume Wednesday, on the 11th day of a rally attempt for that index, that constituted the follow through day that flipped the IBD outlook to “confirmed uptrend”. Ordinarily, you’d like to see the follow through day be a bit stronger, but the rally held up for the rest of the week. It’s okay to make new purchases again of quality stocks at proper buy points. Ease back in slowly until this new uptrend proves that it has some legs. This week, unless Europe blows up some more, the major overhang on the markets will be Friday’s April employment report, which will most likely be a significant market moving event, one direction or the other.

This week, two watch list stocks are at or near proper buy points. AAPL, trading at $603.00, took a healthy bounce off of its ten week line and is in buy range up to $710.01. DG, trading at $47.78, is sitting just above a $47.69 buy point after clearing a 2nd stage square box base on base on good volume.

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

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