Weekly Watch List

FLT (11/25/12, +31.44%)
OCN (1/27/13, +0.51%)
WDR (2/3/13, +5.97%)
MPC (2/3/13, +6.98%)
MX (2/10/13, 3.32%)
BLK (2/3/13, +1.68%)
JAH (2/3/13, +0.42%)
HCA (2/10/13, -3.92%)
PKG (2/10/13, +4.11%)
CVI (2/17/13, -1.30%)
PIR (12/30/12, +14.22%)
AMCX (2/17/13, -1.07%)


CI (2/10/13, -5.20%)
DDD (10/28/12, +33.47%)
EBAY (1/27/13, -2.67%)

Last week the major U.S. indexes finished mixed. The Dow ticked up 0.1%, the S&P 500 lost 0.3%, the NYSE composite gave up 0.4%, and NASDAQ moved down 0.9%. Distribution picked up again and the IBD outlook degraded to “uptrend under pressure”. The Sequester is here and only in Washington D.C. could a decrease in the rate of spending increases be spun as a looming disaster, the world is about to end even though overall government spending for this fiscal year will be greater than the previous fiscal year, go figure. In any case, expect the cynical doomsday rhetoric to intensify this week, along with volatility. Hunker down, reduce your market exposure appropriately, and ride out the short term turmoil. Be prepared to jump over onto the defensive if the market turns ugly.

With the uptrend under pressure, now is probably not the best time to be making new purchases, however, if you insist, this week one watch list stock is currently in a proper buy range. PKG, trading at $41.80, found support at its ten week line and is in buy range up to $42.25.

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


Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out / Change )

Twitter picture

You are commenting using your Twitter account. Log Out / Change )

Facebook photo

You are commenting using your Facebook account. Log Out / Change )

Google+ photo

You are commenting using your Google+ account. Log Out / Change )

Connecting to %s

%d bloggers like this: