Weekly Watch List


ALXN (7/24/11, +62.68%)
GNC (7/01/12, +0.00%)
MNST (10/16/11, +53.47%)
AAPL (4/29/12, -3.20%)
ULTA (4/8/12, -4.44%)
DG (4/8/12, +15.27%)
TJX (3/25/12, +11.20%)
TFM (6/17/12, +3.66%)
VAL (7/01/12, +0.00%)
MA (9/24/11, +28.24%)
VRSK (6/10/12, +3.57%)

Additions:
GNC (7/01/12, +0.00%)
VAL (7/01/12, +0.00%)

Subtractions:
DLTR (6/3/12, +7.42%)

Last week, the major U.S. indexes moved higher. The NYSE composite gained 2.4%, the Dow moved up 1.9%, and the S&P 500 and the Nasdaq both added 1.5%. Monday’s downdraft pushed the markets into correction, but Friday’s monster upside move constituted a follow through day and moved the IBD outlook back to “confirmed uptrend”. It’s once again okay to make new purchases, but proceed with caution. As noted previously, uptrends in June and July haven’t historically performed particularly well.

This week, three watch list stocks are at or near a proper buy point. ALXN, trading at $99.30, is still within 5% of a $95.11 buy point, off of a 4th stage flat base. TJX, trading at $42.93, is just above a $42.91 buy point after breaking out of a 2nd stage flat base. VAL, trading at $52.49, has formed a 2nd stage cup base with a $53.06 buy point.

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

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