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%)


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


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