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