Weekly Watch List


GRFS (03/10/13, -2.41%)
OCN (3/17/13, -11.28%)
MX (2/10/13, +8.37%)
WDR (2/3/13, +7.27%)
JAH (2/3/13, +10.33%)
HCA (2/10/13, +5.62%)
CVI (2/17/13, -7.15%)
CTB (3/24/13, +0.00%)
PKG (3/24/13, +0.00%)

Additions:
CTB (3/24/13, +0.00%)
PKG (3/24/13, +0.00%)

Subtractions:
ABG (03/10/13, +2.38%)
CI (3/17/13, -1.41%)

Last week the major U.S. indexes mostly stumbled to the downside. The Dow ended flat, the NASDAQ dipped 0.1%, the S&P 500 slipped 0.2%, and the NYSE composite faded 0.6%. The IBD outlook remains at “confirmed uptrend”. Although the uptrend continues, the recent market action has been troubling, distribution picked up again and even the up days came on weaker volume. Until the rally either picks up steam or rolls over into correction, remain cautious. Keep playing on the long side, but watch your sell rules and never take a loss of more than 7-8% on any position.

This week, four watch list stocks are in a proper buy range. MX, trading at $16.96, is just above the $16.90 buy point of a 1st stage flat base and has also found support at its ten week line. WDR, trading at $43.09, found support at its ten week line and is in buy range up to $45.63. HCA, trading at $39.31, found support at its ten week line, is in buy range up to $41.58, and has also formed a 2nd stage flat base with a potential buy point of $39.70. PKG, trading at $43.08, 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

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