Weekly Watch List

OCN (3/17/13, +20.49%)
EVR (6/23/13, +18.80%)
BIIB (6/30/13, +3.73%)

Additions:
None

Subtractions:
None

Last week the major U.S. indexes finished mostly unchanged. The NASDAQ added 0.7%, the Dow edged up 0.1%, and the NYSE composite and S&P 500 ended flat. The IBD outlook remains at “confirmed uptrend”. The S&P 500 picked up a distribution day and the overall market action wasn’t particularly encouraging, with little evidence that institutional investors are participating in this rally with any great enthusiasm. This week will be chock full of potential market moving catalysts as earnings season continues, the FOMC meets starting Tuesday, we get the advance look at Q2 GDP on Wednesday, and Friday brings the July employment situation report. Pay attention, stay nimble, and continue to ride the uptrend, such as it is, by purchasing only top rated stocks at proper buy points.

This week one watch list stock is currently in a proper buy range. EVR, trading at $45.19, is still within 5% of a $44.63 buy point after breaking out of a 2nd stage consolidation on good volume.

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

Making money off this Watch List? Feel free to tip the dealer!

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Weekly Watch List

EVR (6/23/13, +12.09%)
OCN (3/17/13, +16.13%)
BIIB (6/30/13, +7.00%)

Additions:
None

Subtractions:
None

Last week the major U.S. indexes finished mixed. The NYSE composite gained 1.3%, the S&P 500 added 0.7%, the Dow tacked on 0.5%, and the NASDAQ lost 0.3%. The IBD outlook remains at “confirmed uptrend”. The new rally got off to a rough start with the NASDAQ picking up three distribution days. It’s not time to push the panic button yet, but the poor market action so far, with higher volume on down days and lower volume on up days, warrants taking a more cautious approach to building your long positions until the uptrend regains it’s footing or breaks down into correction. Keep a short leash on your portfolio, consider taking small profits if a stock shows signs of stalling, and cut any losses at no more than 7-8%. Take what the market’s offering and don’t give it back.

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

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

Weekly Watch List

OCN (3/17/13, +14.55%)
EVR (6/23/13, +7.94%)
BIIB (6/30/13, +5.18%)

Additions:
None

Subtractions:
LYB (6/16/13, +3.83%)

Last week all the major U.S. indexes pushed higher. The NASDAQ soared 3.5%, the NYSE composite surged 3.1%, the S&P 500 jumped 3.0%, and the Dow climbed 2.2%. Thursday’s 1.6% gain on the NASDAQ, on higher volume than the previous day, marked a follow through day and the IBD outlook was changed to “confirmed uptrend”. Although Thursday’s follow through day wasn’t particularly robust, it was enough to validate a market rally that had already been brewing for a few weeks. Many leading stocks are well extended at this point, so don’t chase. Keep watching for new breakouts from proper bases or secondary entry points and start building your long positions. The buying lamp is lit, get some.

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

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

Weekly Watch List

OCN (3/17/13, +10.90%)
EVR (6/23/13, +0.84%)
BIIB (6/30/13, +3.00%)
LYB (6/16/13, +0.39%)

Additions:
None

Subtractions:
None

Last week the major U.S. indexes gained ground for a second week, although there was no significant volume to support any conclusions as to a trend in future market direction. The NASDAQ vaulted 2.2%, the S&P 500 advanced 1.6%, the Dow moved up 1.5%, and the NYSE composite added 1.1%. The IBD outlook remains at “market in correction”. With a normal trading schedule resuming this week, we should get a more reliable picture of just which direction the market wants to go. Second quarter earnings season begins Monday and, overall, earnings reports are expected to be lackluster. Pay close attention, keep your watch lists updated, and be prepared to quickly follow where the market leads, either up or down.

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:

EW
FTNT
NUAN
RVBD
SWI

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