Last week, the major indices all took a tumble. The Nasdaq dove 2.5%, the NYSE composite sank 2%, the S&P 500 slumped 1.3%, and the Dow dipped 1.0%. Monday’s negative Nasdaq action, on higher volume, marked a sixth distribution day for the index and pushed the IBD outlook over to “market in correction”. The rest of the week pretty much went downhill from there. Take profits and raise cash. Don’t let profits turn into losses and never take a loss of more than 7-8% on any stock. Avoid making any new purchases until the market starts a new, confirmed uptrend.
With the market in correction, none of the watch list stocks can be considered as buy candidates.
/as usual, your mileage may vary, always do your own homework