PIR (12/30/12, +0.00%)
Last week all the major U.S. indexes moved lower. The NASDAQ slumped 2.0%, the S&P 500 and the Dow each shed 1.9%, and the NYSE composite dropped 1.5%. The IBD outlook worsened to “uptrend under pressure”. Look out below, it’s over the cliff we go! As of late Sunday night, the squabbling politician children still hadn’t reached a compromise and any deal they might put together at the last minute is surely going to be lame and nowhere near what the U.S. economy and markets are clamoring for and deserve to see. The good news is that the “fiscal cliff” obsession will be behind us, the bad news is that the current uptrend is barely hanging on by its fingernails. Prepare to play defense.
This week one watch list stock is near a proper buy point. LMCA, trading at $114.08, is just above a $113.44 buy point off of a 2nd stage cup with handle base.
/as usual, your mileage may vary, always do your own homework