LYB (5/19/13, +0.00%)
CI (4/7/13, +5.21%)
Last week all the major U.S. indexes continued their impressive upswing. The S&P 500 vaulted 2.1%, the NASDAQ jumped 1.8%, the Dow gained 1.6%, and the NYSE composite added 1.4%. The IBD outlook remains at “confirmed uptrend”. The indexes shed almost all of their remaining distribution days as the rally continued its climb at a torrid pace. Any investor who “sold in May and went away” should be ashamed of themselves. Of course, the uptrend can’t continue this parabolic move forever without at least some sort of eventual consolidation or pullback, but don’t try and guess when that will occur. Let the market itself tell you where it’s headed and, at least for the time being, it’s telling you that there’s still more room to the upside, take advantage of every opportunity available rack up some gains here.
This week, one watch list stock is currently within a proper buy range. LYB, trading at $67.32, broke out of a 1st stage cup base and is still within 5% of a $65.79 buy point.
/as usual, your mileage may vary, always do your own homework