Weekly Watch List


ALXN (7/24/11, +93.96%)
ALGN (9/16/12, -3.27%)
FLT (9/2/12, +3.75%)
AAPL (4/29/12, +10.63%)
TDG (9/9/12, -1.16%)
CF (9/9/12, +3.38%)
FRAN (9/23/12, +0.23%)
PNRA (9/23/12, +0.47%)
TFM (9/23/12, +1.94%)
JAH (9/9/12, +4.78%)
PII (9/23/12, -0.89%)
VAL (7/01/12, +6.88%)
TJX (3/25/12, +15.95%)
ROST (9/9/12, -3.26%)
TDC (9/30/12, +0.00%)

Additions:
TDC (9/30/12, +0.00%)

Subtractions:
None

Last week, all the major U.S. indexes moved lower. The NASDAQ dropped 2.0%, the NYSE composite slumped 1.5%, the S&P 500 lost 1.3%, and the Dow gave up 1.0%. The IBD outlook remains at “confirmed uptrend”. Chinese and European woes reared their ugly heads again and combined with poor U.S. economic data to tamp down U.S. equity enthusiasm. Institutions were selling most of the week and the resulting distribution put a good sized dent in the ongoing rally. It’s not over yet, but another week like last week will, at a minimum, put the uptrend under pressure. Have a plan ready to move over on to the defensive, just in case. This week, besides whatever news might spring forth from China or Europe or elsewhere, Friday’s September employment report looms large, not only in terms of its effect on market sentiment, but maybe even more so politically. With the elections and the “fiscal cliff” still unresolved and drawing ever closer, expect market volatility to most likely increase.

This week six of the watch list stocks are at or near proper buy points. ALXN, trading at $114.80, is still within 5% of a $110.06 buy point, off of a 4th stage flat base. ALGN, trading at $36.97, is within 5% of a $36.20 buy point, off of a 2nd stage flat base. TDG, trading at $141.87, has pulled back to within 5% of a $136.44 buy point, off of a 1st stage flat base. CF, trading at $222.24, is still in buy range up to $229.16, after finding support at its ten week line. PNRA, trading at $170.89, is still within 5% of a $164.10 buy point, off of a 1st stage cup with handle base. TDC, trading at $75.41, is still within 5% of a $73.84 buy point, off of a 2nd stage double bottom base.

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

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