Weekly Watch List


ALXN (7/24/11, +57.44%)
GNC (3/18/12, +2.95%)
LQDT (12/25/11, +24.34%)
MNST (10/16/11, +31.60%)
MA (9/24/11, +24.78%)
NUS (8/28/11, +49.64%)
DLTR (9/4/11, +32.69%)
TJX (3/25/12, +2.80%)
FAST (3/25/12, +0.86%)

Additions:
None

Subtractions:
DG (3/25/12, -1.97%)
ULTA (11/13/11, +28.39%)

Last week, the major U.S. indexes moved higher. The Dow rose 1.0%, the Nasdaq and S&P 500 each added 0.8%, and the NYSE composite tacked on 0.3%. Despite the weekly upward move, the indexes all suffered another bout of across the board distribution on Wednesday, pushing the IBD outlook to “uptrend under pressure”. Proceed with caution. Think about booking any big gains and weeding out your laggards. At a minimum, keep a close eye on your portfolio in case the market rolls over into correction. Don’t let profits turn into losses.

With the uptrend under pressure, it’s probably not a good idea to be making new purchases but, if you like tempting fate, this week one watch list stock is near a proper buy point. GNC, trading at $34.89, is still within 5% of a $33.80 buy point, off of a four weeks tight pattern.

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

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