Weekly Watch List


GMCR
NEU
PCLN
NVEC
JOSB
PEGA
RKT
GES
TECD
ISRG
BCSI
ROST
CERN
WBD
SNDA

Additions:
SNDA
WBD

Subtractions:
ADVS
LFC
LFT
MDAS
UNFI

Last week the market was down across the board. The Nasdaq lost 0.5%, the Dow and the NYSE composite each gave up 1.1%, and the S&P 500 was off 1.2%. After Tuesday’s high volume bloodbath, IBD changed their outlook to “uptrend under pressure”, meaning that institutional selling is making its presence felt and the Bears are looking to take the market lower. In other words, be careful, watch your positions closely and consider taking some profits and raising some cash. Buying some puts for protection might not be a bad idea either. Volume should return to more normal levels this week with most traders back from vacation.

Once again, this week there are no stocks on the watch list that are potential buy candidates and with the “uptrend under pressure”, it’s probably not the best time to be making new purchases anyway.

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

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