Weekly Watch List


ALXN (7/24/11, +81.35%)
AAPL (4/29/12, +2.11%)
TFM (6/17/12, +17.04%)
GNC (7/01/12, +0.03%)
ROST (7/22/12, +1.46%)
DG (4/8/12, +9.91%)
TJX (3/25/12, +16.77%)
MNST (10/16/11, +41.54%)
ULTA (4/8/12, -7.64%)
VAL (7/01/12, -5.20%)
JAH (8/5/12, +0.00%)
EBAY (8/5/12, +0.00%)

Additions:
EBAY (8/5/12, +0.00%)
JAH (8/5/12, +0.00%)

Subtractions:
MA (9/24/11, +25.84%)
VRSK (7/15/12, -6.46%)

Last week, the major U.S. indexes moved higher once again. The S&P 500 gained 0.4%, the NASDAQ and the NYSE composite both added 0.3%, and the Dow tacked on 0.2%. Despite picking up two distribution days on each of the indexes last week, the IBD outlook remains at “confirmed uptrend”. Earnings season is winding down and there’s no scheduled news events on the near term horizon that would be an obvious catalyst. So far, this new uptrend hasn’t been particularly impressive, but it’s an uptrend nonetheless. You should be taking on some risk until the market action tells you otherwise.

This week two watch list stocks are at or near proper buy points. AAPL, trading at $615.70, has formed a 5th stage cup with handle base, with a potential $619.97 buy point. ROST, trading at $68.12, is still barely 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 usual, your mileage may vary, always do your own homework

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