Weekly Watch List


LULU (6/25/11, +21.56%)
FOSL (3/12/11, +61.13%)
ALXN (7/24/11, +0.00%)
NFLX (7/30/10, +169.70%)
HS (3/5/11, +21.08%)
AVGO (7/24/11, +0.00%)
PRGO (4/2/11, +17.25%)
INFA (10/16/10, +49.00%)
ILMN (5/7/11, +4.62%)
CVLT (6/4/11, +3.40%)
ARMH (7/24/11, +0.00%)

Additions:
ALXN (7/24/11, +0.00%)
ARMH (7/24/11, +0.00%)
AVGO (7/24/11, +0.00%)

Subtractions:
EW (7/9/11, -2.17%)
HUM (6/11/11, +3.02%)

Last week, the major indexes ended mixed but mostly positive. The Nasdaq gained 2.5%, the S&P 500 and the NYSE composite both added 2.2%, but the Dow shed 0.3%, thanks to CAT. Tuesday’s positive action pushed the IBD outlook back to “confirmed uptrend”. It’s theoretically okay to buy top stocks at proper buy points, however, you might want to wait until the debt ceiling issue is resolved. We’re in uncharted territory here.

With that caveat, this week three watch list stocks, NFLX, HS, and PRGO are at or near proper buy points. NFLX, trading at $276.58, has dipped below a $277.80 buy point off a late stage base breakout. HS, trading at $45.27, has found support at its ten week line. PRGO, trading at $93,68, is still within 5% of a $92.40 buy point after breaking out of a cup base.

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

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