Weekly Watch List


ALXN (7/24/11, +42.86%)
RGR (5/20/12, +0.00%)
ULTA (4/8/12, -10.23%)
AAPL (4/29/12, -12.04%)
MNST (10/16/11, +45.40%)
TJX (3/25/12, +3.70%)
DG (4/8/12, -3.32%)
SHFL (5/20/12, +0.00%)
MA (9/24/11, +17.07%)
VRSK (5/20/12, +0.00%)

Additions:
RGR (5/20/12, +0.00%)
SHFL (5/20/12, +0.00%)
VRSK (5/20/12, +0.00%)

Subtractions:
DLTR (9/4/11, +33.68%)
FFIV (4/29/12, -17.19%)

Last week, all the major U.S. indexes cratered, the worst week of the year so far. The Nasdaq plummeted 5.3%, the NYSE composite plunged 5%, the S&P 500 dropped 4.3%, and the Dow fell 3.5%. The IBD outlook remains at “market in correction”. Although the U.S. economy is slowly improving, the pace is so slow it’s like watching paint dry. Whether the fears are rational or not, expect U.S. markets to continue to panic at the slightest whiff of more bad news out of Europe. The current downtrend is a perfect example of why you need to pay attention to overall market direction, take profits and limit losses when the markets turn negative, and not fight a freefalling tape. The only safe, painless place to be right now is in cash.

With the market in correction, none of the watch list stocks can be considered as buy candidates.

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

Bonus content:

The following stocks currently exhibit potential technical characteristics consistent with historically successful shorting opportunities, emphasis on POTENTIAL:

NRG

INCORRECTLY SHORTING STOCKS CAN LEAD TO UNLIMITED LOSSES. Proceed at your own risk.

/How to Make Money Selling Stocks Short by William J. O’Neil

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