Weekly Watch List


GMCR
NEU
PCLN
BIDU
BWY
PEGA
NVEC
BUCY
JOSB
SHOO
GES
RKT
ISRG
TECD
SNDA
CERN

Additions:
BUCY
CERN
SNDA

Subtractions:
IBN
INT

Last week the market defied gravity again with the Nasdaq, NYSE composite, and S&P 500 all up 2.5%, and the Dow ahead by 2.2%. The IBD outlook is “market in confirmed uptrend” and almost all the distribution days that were weighing on the uptrend have fallen by the wayside because of advances in the indexes or the passage of time. Correction, who needs a correction?

This week there are two stocks on the watch list that are potential buy candidates, GMCR and PEGA. GMCR, a stock that has been very, very good to me in the past, has formed a cup pattern with a buy point of $72.10. GMCR is currently trading at $68.89, but you’ll want to see it trade through the buy point on robust volume before buying. Just like last week, PEGA, trading at $33.26, is still in buy range anywhere up to $34.91 after recently finding support at its ten week line, even after tacking on over $2 since last week.

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

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