Weekly Watch List

GMCR
HMSY
NVEC
PCLN
SNDA
CERN
QSII
CPSI
DIN
MFE
CRI
CTRN
CUB
MDAS
CMN

Additions:
None.

Subtractions:
None.

Last week, all the major indexes were negative, the Nasdaq slipping 2.3%, the NYSE down 2.2%, the S&P 500 losing 2.5%, and the Dow only trimming 1.9%. Still, even after Thursday’s broad decline on all the indexes, it wasn’t enough to dislodge IBD’s market outlook of market in confirmed uptrend, although it’s hanging on by it’s fingernails. Throughout the holiday shotrtened week, market volume was nowhere to be found, which means institutional sellers were not participating in the week’s downtrend. This week, there are once again two buy candidates GMCR and MFE.

After a phenomenal breakout on April 30 (which I cashed in on),GMCR made it’s first pullback to it’s 10-week line and found support. It’s currently trading at $58.45 and in a buy range anywhere between $51.85, where it tested the 10-week line, and $66.87, 5% above it’s most recent high point of $63.69.

Last Monday, MFE finally broke through it’s $40.99 buy point on excellent volume. It’s currently trading at $41.00 and is in buy range up to $43.03, 5% above the $40.99 buy point.

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