Weekly Watch List

OCN (3/17/13, +4.34%)
JAZZ (5/26/13, +0.00%)
LYB (5/19/13, -2.38%)

Additions:
JAZZ (5/26/13, +0.00%)

Subtractions:
VLO (5/5/13, +6.57%)

Last week all the major U.S. indexes turned lower. The Dow eased 0.3%, the NASDAQ and S&P 500 each shed 1.1%, and the NYSE composite lost 1.4%. The IBD outlook remains at “confirmed uptrend”. Equities stumbled a bit as the long weekly winning streak came to an end. The indexes picked up some distribution but the levels remain reasonable. Whether this one week setback in the rally is a pause that refreshes or the beginning of a larger consolidation or correction is hard to say. At this point, the prudent course of action is to watch the market action carefully, adopt a more cautious stance, and keep a tighter leash on your portfolio. Remain disciplined with any new purchases, buying only high quality stocks in proper buy range, and don’t let any gains, even modest ones, turn into losses. There’s no shame in taking small profits given the current market conditions.

This week, one watch list stock is currently near a proper buy point. LYB, trading at $65.72, is hovering just below a $65.79 buy point after breaking out of a 1st stage cup base.

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

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Weekly Watch List

OCN (3/17/13, +12.20%)
VLO (5/5/13, +9.60%)
LYB (5/19/13, +0.00%)

Additions:
LYB (5/19/13, +0.00%)

Subtractions:
CI (4/7/13, +5.21%)

Last week all the major U.S. indexes continued their impressive upswing. The S&P 500 vaulted 2.1%, the NASDAQ jumped 1.8%, the Dow gained 1.6%, and the NYSE composite added 1.4%. The IBD outlook remains at “confirmed uptrend”. The indexes shed almost all of their remaining distribution days as the rally continued its climb at a torrid pace. Any investor who “sold in May and went away” should be ashamed of themselves. Of course, the uptrend can’t continue this parabolic move forever without at least some sort of eventual consolidation or pullback, but don’t try and guess when that will occur. Let the market itself tell you where it’s headed and, at least for the time being, it’s telling you that there’s still more room to the upside, take advantage of every opportunity available rack up some gains here.

This week, one watch list stock is currently within a proper buy range. LYB, trading at $67.32, broke out of a 1st stage cup base and is still within 5% of a $65.79 buy point.

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

Weekly Watch List

OCN (3/17/13, +7.51%)
VLO (5/5/13, +3.22%)
CI (4/7/13, +6.63%)

Additions:
None

Subtractions:
GRFS (3/10/13, -5.58%)
PKG (3/24/13, +13.09%)

Last week all the major U.S. indexes moved higher once again. The NASDAQ bolted 1.7%, the S&P 500 jumped 1.2%, the NYSE composite gained 1.1%, and the Dow added 1.0%. The IBD outlook remains at “confirmed uptrend”. The market settled into a bullish groove with positive action coming mostly on increased volume and the isolated index losses coming in small amounts and on lesser volume. A significant number of index distribution days fell by the wayside and the levels are now reasonable. Most of the leading stocks are extended from proper entry points, so don’t chase. Concentrate on the few good stocks that are still just breaking out of bases and run with the rally, there’s a definite tailwind to the upside for the near term.

This week, one watch list stock is currently within a proper buy range. OCN, trading at $42.40, is still within buy range after punching through a $42.17 buy point on good volume, off of a 3rd stage cup base.

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

Weekly Watch List

OCN (3/17/13, -5.70%)
VLO (5/5/13, +0.00%)
PKG (3/24/13, +10.61%)
GRFS (3/10/13, +2.86%)
CI (4/7/13, +4.01%)

Additions:
VLO (5/5/13, +0.00%)

Subtractions:
CVI (4/21/13, +15.53%)
HCA (4/21/13, +8.87%)

Last week all the major U.S. indexes surged higher. The NASDAQ rocketed 3.0%, the S&P 500 vaulted 2.0%, the NYSE composite leapt 1.9%, and the Dow jumped 1.8%. After Monday’s gains, IBD made the unusual move of upgrading the IBD outlook to “confirmed uptrend” without the usual requirement of a large gain on volume follow through day. They justified this as a resumption of the previous rally and also reinstated the relatively high number of distribution days to the uptrend reincarnation. Subsequent action the rest of the week proved this to be the correct decision as the indexes moved to new highs. Still, the distribution levels remain elevated so stay disciplined. Although the stock buying lamp is lit again, only purchase leading stocks in proper buy range.

This week, none of the watch list stocks are currently within a proper buy range.

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