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

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