LO (10/22/11, +0.00%)
Last week, the major indexes ended mixed. The Dow gained 1.4%, the S&P 500 and the NYSE composite both added 1.1%, and the Nasdaq lost 1.1%. Despite three distribution days for the Nasdaq, the IBD outlook remains at “confirmed uptrend”. The distribution on the Nasdaq, this early in the new uptrend, is not a good omen and Europe is still wagging the dog. It’s okay to make new purchases, but proceed with caution.
This week, two watch list stocks, NUS and LO can be considered as potential buy candidates. NUS, trading at $45.98, found support at its ten week line and is in buy range up to $49.27. LO, trading at $115.64, is still within 5% of a $113.06 buy point, off a cup with handle base.
/as usual, your mileage may vary, always do your own homework