Weekly Watch List


ARUN
FOSL
AGP
NFLX
BIDU
SINA
HS
PRGO
INFA
ILMN
AH
EW
HUM
ORCL
AAPL

Additions:
AAPL
EW
HUM
ILMN

Subtractions:
CTSH
JOYG
NTES

Last week, all the major indices powered lower. The NYSE composite plunged 2.8%, the S&P 500 gave up 1.7%, the Nasdaq dropped 1.6% and the Dow faded 1.3%. On Tuesday, the IBD outlook rolled over to “uptrend under pressure” and then Wednesday’s action bludgeoned the IBD outlook down to “market in correction”. So, for now, it is indeed okay to sell in May and go away, the market action is currently reinforcing the cliché. Until the next confirmed uptrend starts, consider taking profits, don’t let profits turn into losses, and never take a loss of more than 7-8% on any position.

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

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