Weekly Watch List


GNC (7/01/12, +7.50%)
ALXN (7/24/11, +71.67%)
AAPL (4/29/12, +0.48%)
MNST (10/16/11, +55.64%)
DLTR (7/08/12, +0.00%)
DG (4/8/12, +15.61%)
ULTA (4/8/12, -1.45%)
TFM (6/17/12, +7.44%)
TJX (3/25/12, +15.01%)
MA (9/24/11, +31.04%)
VAL (7/01/12, +1.81%)
HIBB (7/08/12, +0.00%)

Additions:
DLTR (7/08/12, +0.00%)
HIBB (7/08/12, +0.00%)

Subtractions:
VRSK (6/10/12, +4.41%)

Last week, the major U.S. indexes ended mostly lower. The Nasdaq inched up 0.1%, the S&P 500 dipped 0.5%, the NYSE composite slipped 0.6%, and the Dow lost 0.8%. Despite Friday’s unnerving distribution day for the Nasdaq, in the wake of the pathetic June employment situation report, the IBD outlook remains at “confirmed uptrend”. Earnings season starts after the close Monday and the overall mood going in seems to be pessimistic. That said, ignore the “sentiment” and focus on what the markets actually do. An uptrend is an uptrend, take advantage of it while it lasts by prudently acquiring quality stocks as they break out of proper bases.

This week, four watch list stocks are at or near proper buy points. GNC, trading at $42.14, broke out of a 3rd stage cup base and is just above a $42.05 buy point. DLTR, trading at $54.29, found support at its 10 week line and is in buy range up to $59.66. TJX, trading at $44.43, is still within 5% of a $42.91 buy point after breaking out of a 2nd stage flat base. VAL, trading at $53.44, broke out of a 2nd stage cup base and sits just above a $53.06 buy point.

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

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