Weekly Watch List

LULU (6/25/11, +16.00%)
FOSL (3/12/11, +52.24%)
ALXN (7/24/11, -3.70%)
NFLX (7/30/10, +159.38%)
ULTA (7/30/11, +0.00%)
HS (3/5/11, +9.76%)
PRGO (4/2/11, +13.03%)
AVGO (7/24/11, -9.28%)
INFA (10/16/10, +37.89%)
NUS (7/30/11, +0.00%)
RGLD (7/30/11, +0.00%)
CVLT (6/4/11, -3.90%)

Additions:
NUS (7/30/11, +0.00%)
RGLD (7/30/11, +0.00%)
ULTA (7/30/11, +0.00%)

Subtractions:
ARMH (7/24/11, -4.70%)
ILMN (5/7/11, -12.26%)

Last week, the major indexes took a well telegraphed, completely unnecessary, Washington induced pounding over the debt ceiling. The Dow plunged 4.2%, the S&P 500 and the NYSE composite both lopped off 3.9%, and the Nasdaq dropped 3.6%. Monday’s swoon pushed the IBD outlook to “uptrend under pressure” and Wednesday’s shellacking tipped the IBD outlook over to “market in correction”. It’s time to play defense again and wait for the next uptrend. Don’t let any profits turn into losses, paying taxes is always better than losing money.

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