Weekly Watch List


ALXN (7/24/11, +84.76%)
AAPL (4/29/12, -2.96%)
GNC (7/01/12, -2.53%)
ROST (7/22/12, +0.18%)
MNST (10/16/11, +44.47%)
TJX (3/25/12, +15.71%)
DG (4/8/12, +7.98%)
TFM (6/17/12, +9.95%)
ULTA (4/8/12, -8.06%)
MA (9/24/11, +29.59%)
VAL (7/01/12, -3.60%)
VRSK (7/15/12, +0.41%)

Additions:
None

Subtractions:
DLTR (7/08/12, -4.29%)

Last week, the major U.S. indexes moved higher. The Dow and the NYSE composite each surged 2.0%, the S&P 500 vaulted 1.7%, and the NASDAQ added 1.1%. The IBD outlook slid to “market in correction” on Wednesday, but then quickly rebounded to “confirmed uptrend” after Thursday’s gains on volume. Normally, a follow through day can’t occur until at least the fourth day of a new rally attempt. However, in this case, IBD calculated the rally attempt from the July 12th low, so the follow through day came on day ten. In any case, the uptrend was reconfirmed by Friday’s encouraging market action. Positive fiscal pronouncements out of Europe were primarily responsible for last week’s uptick in U.S. markets. If, and it’s still a big if, although it’s sounding more likely and could happen sooner rather than later, the Europeans take concrete, credible action to put their economic union in order, the U.S. markets will soar. You do not want to miss a rally like that, don’t get caught on the sidelines.

This week three watch list stocks are at or near proper buy points. ROST, trading at $67.26, is still within 5% of a $64.89 buy point, off of a 5th stage flat base, and has also found support at its 10 week line as it continues to meander sideways. TJX, trading at $44.70, is still barely within 5% of a $42.91 buy point off of a 2nd stage flat base. VRSK, trading at $50.86, is still within 5% of a $49.76 buy point, off of a 2nd stage flat base, and has also found support at its 10 week line.

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

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