Weekly Watch List


ALXN (7/24/11, +62.68%)
AAPL (4/29/12, -3.47%)
MNST (10/16/11, +56.02%)
ULTA (4/8/12, +0.59%)
DLTR (6/3/12, +9.61%)
DG (4/8/12, +11.39%)
TJX (3/25/12, +11.83%)
TFM (6/17/12, +1.78%)
MA (9/24/11, +29.09%)
VRSK (6/10/12, +1.03%)

Additions:
None

Subtractions:
SSYS (6/17/12, -2.20%)

Last week, the major U.S. indexes ended mixed. The Nasdaq gained 0.7%, the S&P 500 and the NYSE composite both gave up 0.7%, and the Dow lost 1.0%. Thursday’s sharp drop on higher volume slapped a distribution day on all the indexes and degraded the IBD outlook to “uptrend under pressure”. The new uptrend is not off to a particularly good start with an emphatic distribution day coming so soon after the start of the rally. While it’s still technically okay to make new purchases, it’s probably best to back off to the sidelines for now and wait until a definite market direction becomes clear. If you already have made new purchases, keep them on a short leash and don’t let any profits, no matter how small, turn into losses.

This week, three watch list stocks are at or near a proper buy point. ALXN, trading at $95.95, broke out of a 4th stage flat base and sits just above a $95.11 buy point. ULTA, trading at $95.61, is still underneath the $96.75 buy point after breaking out of a 6th stage cup base. TJX, trading at $43.20, broke out of a 2nd stage flat base and is still within 5% of a $42.91 buy point.

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

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