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

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