Weekly Watch List


BUCY
RAX
NEU
PCLN
SIRO
GMCR
TLVT
ISRG
BIDU
ASIA
BCSI
VRX
WBD
ABV
AAPL
NMM
V
SHOO
GES

Additions:
NMM

Subtractions:
GOL
KMGB
MELI

Between China cracking down on bank lending, sudden Senate Democrat opposition to Ben Bernanke’s reappointment as Federal Reserve chairman, and Obama’s juvenile jihad against Wall street, last week turned out to be a disaster.The NYSE composite dived 4.4%, the Dow tanked 4.1%, the S&P 500 gave up 3.9% and the Nasdaq slipped 3.6%. The IBD outlook rolled over to “uptrend under pressure” on Thursday and then raised the white flag of surrender on Friday, ending the week at “market in correction”. Don’t make any new purchases and keep a short leash on your portfolio. Don’t let profits turn into losses, don’t take a loss of more than 7-8% on anything, and consider adding some downside protection using puts or shorts in case this correction last for a while.

This week, there are no watch list stocks in a proper buy range.

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

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