Weekly Watch List


GNC (7/01/12, +0.13%)
ALXN (7/24/11, +65.06%)
AAPL (4/29/12, +0.33%)
MNST (10/16/11, +56.27%)
DLTR (7/08/12, -2.80%)
DG (4/8/12, +15.48%)
TJX (3/25/12, +15.95%)
TFM (6/17/12, +7.15%)
ULTA (4/8/12, -2.47%)
VAL (7/01/12, -0.65%)
HIBB (7/08/12, -0.32%)
MA (9/24/11, +27.47%)
VRSK (7/15/12, +0.00%)

Additions:
VRSK (7/15/12, +0.00%)

Subtractions:
None

Last week, the major U.S. indexes ended narrowly mixed. The S&P 500 inched up 0.2%, the Dow and NYSE composite finished flat, and the Nasdaq faded 1%. Tuesday’s across the board distribution day downgraded the IBD outlook to “uptrend under pressure”. It’s probably a good idea to hold off making any more new purchases for the time being, keep a close eye on your portfolio, and be prepared to cut losses quick if the market makes a break for the downside.

That said, if you insist on living dangerously, this week four watch list stocks are at or near proper buy points. ALXN, trading at $97.35, has dropped back to within 5% of a $95.11 buy point off of a 4th stage flat base. DLTR, trading at $52.77, after finding support at its 10 week line, is in buy range up to $59.66. TJX, trading at $44.79, is still barely within 5% of a $42.91 buy point after breaking out of a 2nd stage flat base. VRSK, trading at $50.65, broke past the $49.76 buy point of a 2nd stage flat base although, so far, volume has been lacking.

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

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