Weekly Watch List


AAPL (4/29/12, +7.48%)
ALXN (7/24/11, +73.47%)
ROST (7/22/12, +3.47%)
TFM (6/17/12, +16.65%)
TJX (3/25/12, +18.85%)
ULTA (8/19/12, +0.00%)
DG (4/8/12, +8.75%)
VAL (7/01/12, -0.42%)
JAH (8/5/12, +2.84%)

Additions:
ULTA (8/19/12, +0.00%)

Subtractions:
GNC (7/01/12, -8.80%)

Last week, the major U.S. indexes climbed higher again. The NASDAQ jumped 1.8%, the S&P 500 moved up 0.9%, the NYSE composite rose 0.7%, and the Dow added 0.3%. The IBD outlook remains at “confirmed uptrend”. The slow motion rally continues, ride it until the market actually tells you it’s over, don’t fight the tape, embrace it. Barring some unexpected news, volume should continue to be extremely quiet next week.

This week five watch list stocks are at or near proper buy points. AAPL, trading at $648.11, is still barely within 5% of a $619.97 buy point after breaking out of a 5th stage cup with handle base on low volume. ROST, trading at $69.47, has formed another 5th stage flat base with a potential $70.14 buy point. TFM, trading at $60.39, is still within 5% of a $57.96 buy point after breaking out of a 2nd stage double bottom base. TJX, trading at $45.91, broke past the $45.49 buy point of a four weeks tight pattern. VAL, trading at $52.27, has formed a 2nd stage flat base on base pattern with a potential buy point of $53.85.

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

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