Weekly Watch List


AAPL (4/29/12, +16.10%)
ALXN (7/24/11, +93.64%)
ALGN (9/16/12, -1.02%)
TDG (9/9/12, +0.68%)
FLT (9/2/12, +5.60%)
VAL (7/01/12, +12.06%)
FRAN (9/23/12, +0.00%)
JAH (9/9/12, +5.37%)
PII (9/23/12, +0.00%)
CF (9/9/12, +1.74%)
ROST (9/9/12, -3.26%)
TFM (9/23/12, +0.00%)
TJX (3/25/12, +15.32%)
PNRA (9/23/12, +0.00%)

Additions:
FRAN (9/23/12, +0.00%)
PII (9/23/12, +0.00%)
PNRA (9/23/12, +0.00%)
TFM (9/23/12, +0.00%)

Subtractions:
EBAY (9/16/12, -1.00%)

Last week, all the major U.S. indexes drifted lower. The Dow and the NASDAQ each faded 0.1%, the S&P 500 dipped 0.4%, and the NYSE composite slipped 1.0%. The IBD outlook remains at “confirmed uptrend”. Although the current rally is getting long in the tooth and the major indexes are already near multi-year highs, it still seems as if the markets want to move higher. Instances of distribution have been few and far between, volatility is near historic lows, and the FOMC is all in to backstop equity prices. At least for now, there’s no obvious sign that institutions are contemplating a rush for the exits anytime in the near future. The major U.S. economic data point this week will be Thursday’s final look at Q2 GDP, a significant deviation from the 1.7% consensus, in either direction, could be a market catalyst.

This week four of the watch list stocks are at or near proper buy points. ALXN, trading at $114.21, is still within 5% of a $110.06 buy point, off of a 4th stage flat base. ALGN, trading at $37.83, has pulled back to barely within 5% of a $36.20 buy point after recently breaking out of a 2nd stage flat base. CF, trading at $218.70, is still in buy range up to $229.16 after finding support at its ten week line. PNRA, trading at $170.09, is still within 5% of a $164.10 buy point after breaking out of a 1st stage cup with handle base.

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

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