Weekly Watch List

ULTA (11/13/11, +0.00%)
ALXN (7/24/11, +8.94%)
MA (9/24/11, +9.83%)
RGLD (10/30/11, +12.05%)
DLTR (9/4/11, +10.48%)
HANS (10/16/11, -0.97%)
CXO (10/30/11, -2.49%)
NUS (8/28/11, +28.19%)
DG (9/4/11, +10.54%)

ULTA (11/13/11, +0.00%)


Last week, the major indexes ended mixed. The Dow gained 1.4%, the S&P 500 added 0.8%, the NYSE composite inched up 0.3%, and the Nasdaq shed 0.3%. After Tuesday’s positive action, the IBD outlook was upgraded to “confirmed uptrend”, but Wednesday’s pounding slapped it back down to “uptrend under pressure”. It’s best to just sit tight, keep your watch list updated, a close eye on your portfolio, and wait for the next confirmed uptrend.

However, if you’re a risk taker who likes to run yellow lights, two watch list stocks, ULTA and MA, are near proper buy points. ULTA, trading at $72.35, broke out of a late stage base on base pattern, on good volume, and has now settled just below a $74.10 buy point. MA, trading at $370.15, is still within 5% of a $362.04 buy point .

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