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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