Weekly Watch List

OCN (3/17/13, -7.83%)
GRFS (3/10/13, +3.14%)
PKG (3/24/13, +6.31%)
CI (4/7/13, +1.97%)
HCA (4/21/13, +1.57%)
CVI (4/21/13, +5.06%)

Additions:
None

Subtractions:
JAH (2/3/13, +13.22%)

Last week all the major U.S. indexes moved higher. The NASDAQ surged 2.3%, the NYSE composite jumped 2.0%, the S&P 500 gained 1.7%, and the Dow added 1.1%. The IBD outlook remains at “market in correction”. Even though the overall price action last week was positive, there was no definitive follow through day on volume that would signal a new uptrend. Continue to use any further market strength to weed out your laggard positions and raise cash. Consider locking in profits on your winners. As the current earnings season winds down, remain cautious and wait for the institutional investors to jump back in and start a new rally.

With the market in correction, none of the watch list stocks can be considered as buy candidates.

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

The following stocks currently exhibit potential technical characteristics consistent with historically successful shorting opportunities, emphasis on POTENTIAL:

BBG
EMC
LVLT
MCRS
SWKS

INCORRECTLY SHORTING STOCKS CAN LEAD TO UNLIMITED LOSSES. Proceed at your own risk.

/How to Make Money Selling Stocks Short by William J. O’Neil

Weekly Watch List

GRFS (3/10/13, +1.55%)
OCN (3/17/13, -12.15%)
CI (4/7/13, +0.95%)
JAH (2/3/13, +7.12%)
HCA (4/21/13, +0.00%)
CVI (4/21/13, +0.00%)
PKG (3/24/13, +0.44%)

Additions:
CVI (4/21/13, +0.00%)
HCA (4/21/13, +0.00%)

Subtractions:
None

Last week all the major U.S. indexes cratered on volume. The NASDAQ plunged 2.7%, and the Dow, S&P 500, and NYSE composite each dropped 2.1%. On Monday, the IBD outlook once again slipped to “uptrend under pressure” and then on Wednesday rolled over to “market in correction”. So much for that distribution plagued rally. Raise cash on any strength, don’t let gains you may have on long positions turn into losses, keep your watch lists updated, and feel free to play on the short side until we see the next follow through day, signifying the start of a new uptrend.

With the market in correction, none of the watch list stocks can be considered as buy candidates.

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

The following stocks currently exhibit potential technical characteristics consistent with historically successful shorting opportunities, emphasis on POTENTIAL:

APOL
BBG
MCRS

INCORRECTLY SHORTING STOCKS CAN LEAD TO UNLIMITED LOSSES. Proceed at your own risk.

/How to Make Money Selling Stocks Short by William J. O’Neil

Weekly Watch List

GRFS (3/10/13, +2.96%)
OCN (3/17/13, -5.96%)
CI (4/7/13, +3.38%)
JAH (2/3/13, +10.53%)
PKG (3/24/13, +4.13%)

Additions:
None

Subtractions:
CVI (2/17/13, -13.35%)
HCA (2/10/13, +2.96%)

Last week all the major U.S. indexes bolted higher. The NASDAQ rocketed 2.8%, the S&P 500 soared 2.3%, and the Dow and NYSE composite each vaulted 2.1%. On Wednesday, the market’s positive action on higher volume pushed the IBD outlook back up to “confirmed uptrend”. Although the rally has resumed, the distribution count remains dangerously high, so remain cautious. That said, as a so far unimpressive earnings season ramps up in earnest, the tape is currently indicating that it wants to move higher, don’t fight it.

This week, one watch list stock is in a proper buy range. GRFS, trading at $29.88, found support at its ten week line as in buy range up to $32.58.

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

Weekly Watch List

OCN (3/17/13, -6.95%)
GRFS (3/10/13, -0.72%)
CI (4/7/13, +0.00%)
JAH (2/3/13, +8.18%)
PKG (3/24/13, +2.72%)
HCA (2/10/13, +0.70%)
CVI (2/17/13, -8.00%)

Additions:
CI (4/7/13, +0.00%)

Subtractions:
MX (2/10/13, -1.66%)

Last week all the major U.S. indexes faded. The Dow dipped 0.1%, the S&P 500 lost 1.0%, the NYSE composite dropped 1.2%, and the NASDAQ cratered 1.9%. On Wednesday, the market sold off hard and the resulting distribution degraded the IBD outlook to “uptrend under pressure”. Since then, all the indexes have picked up yet another distribution day and the market seems determined to roll over into a correction. The new earnings season that begins next week isn’t expected to produce an overall positive investment catalyst ether. Lighten up on your long positions, especially any losers you have, raise cash, and get ready to exploit the short side as soon as the seemingly inevitable correction becomes official.

This week, none of the watch list stocks is in a proper buy range, which is just as well considering the current market condition.

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

Bill Turns Five

Happy 5th Birthday Bill!

Since last year, Bob has passed on at age 16, but Obama, the cat, has joined us. Obama’s a purebred Exotic and was born sometime in 2008, so I suppose he’s five too. He won’t sit still for photographs, but I did manage to get two somewhat useable photos, one by hold him and the other using the zoom.

See also:
Bill Turns Four
Bill Turns Three
Bill Turns Two Today!
Happy Birthday Bill!

/so, until next year, hopefully we’ll all be back