Weekly Watch List

OCN (3/17/13, +29.23%)
EVR (6/23/13, +22.71%)
PRAA (9/25/13, +0.00%)
PKG (9/25/13, +0.00%)
BIIB (6/30/13, -1.78%)

Additions:
PKG (9/25/13, +0.00%)
PRAA (9/25/13, +0.00%)

Subtractions:
GRFS (8/11/13, -3.97%)

Last week the major U.S. indexes ended mixed. The NASDAQ gained 1.5%, the S&P 500 added 0.5%, the NYSE composite inched up 0.1%, and the Dow gave up 0.5%. The IBD outlook remains at “market in correction”. With August coming to an end, heading into the Labor Day weekend, don’t expect much in the way of market volume or volatility. After the holiday, assuming “The Taper” is as baked in as it’s going to get, the next big overhang on the Wall of Worry for investors will be the fight, if there is one, over the Continuing Resolution to fund the U.S. Government that expires at the end of September. Expect some market moving fireworks when the political rhetoric ratchets up as the fiscal game of Chicken lurches toward the October 1st deadline.

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:

MRC
MYGN
NUAN
RVBD
TOL
USG

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

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

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Weekly Watch List

OCN (3/17/13, +30.38%)
EVR (6/23/13, +21.82%)
GRFS (8/11/13, -1.75%)
BIIB (6/30/13, -3.86%)

Additions:
None

Subtractions:
MA (8/11/13, -3.10%)
PKG (8/4/13, -5.66%)

Last week all the major U.S. indexes lost ground again. The NASDAQ and NYSE composite each lost 1.6%, the S&P 500 dropped 2.1%, and the Dow tumbled 2.2%. On Thursday the NASDAQ picked up a seventh distribution day, breaking the uptrend’s back and shifting the IBD outlook to “market in correction”. Continue moving to the sidelines, raising cash by taking gains on your winners and weeding out your losers. Don’t let profits turn into losses or small losses turn into bigger losses. Keep your watch lists updated so you’ll be ready to pounce when the next uptrend shows itself. If you’re an action junkie, take a stab at some short positions with tight stops and see if you can catch a downdraft.

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:

LPX
NUAN
USG

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

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

Weekly Watch List

EVR (6/23/13, +26.42%)
OCN (3/17/13, +31.59%)
PKG (8/4/13, -1.14%)
GRFS (8/11/13, +0.00%)
MA (8/11/13, +0.00%)
BIIB (6/30/13, -1.32%)

Additions:
GRFS (8/11/13, +0.00%)
MA (8/11/13, +0.00%)

Subtractions:
None

Last week all the major U.S. indexes turned lower. The NYSE composite dipped 0.7%, the NASDAQ faded 0.8%, the S&P 500 gave up 1.1%, and the Dow lost 1.5%. The NASDAQ got hit with a sixth distribution day on Tuesday and that degraded the IBD outlook to “uptrend under pressure”. With the rally faltering, now is the time to reduce your long exposure and begin raising cash. Remember, buy and hold is the only sure way to catch every market downtrend. Take some profits, don’t let any profits turn into losses, cull your losers before they become even bigger losers, and never take a loss of more than 7-8% on anything. The key to long term investing success is to consistently limit your losses. Dust off your short watch lists in case the market rolls over into correction.

With the uptrend under pressure, it’s not advisable to be making new purchases. However, if you’re a daredevil, this week one watch list stock is currently in a proper buy range. GRFS, trading at $32.52, is still barely within 5% of a $31.21 buy point off of a 1st stage cup with handle base.

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

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

Weekly Watch List

OCN (3/17/13, +29.36%)
EVR (6/23/13, +26.42%)
PKG (8/4/13, +0.00%)
BIIB (6/30/13, +5.84%)

Additions:
PKG (8/4/13, +0.00%)

Subtractions:
None

Last week all the major U.S. indexes moved higher. The NASDAQ jumped 2.1%, the S&P 500 climbed 1.1%, the NYSE composite added 0.7%, and the Dow tacked on 0.6%. The IBD outlook remains at “confirmed uptrend”. Although the rally plods on, convincing volume is still lacking and the distribution count continues to mount. Don’t expect a lot of market excitement this week as there will be little economic data to chew on, earnings season is winding down, and the Washington D.C. politicians are off on vacation. Stay disciplined, purchasing only top rated stocks at proper buy points. This certainly isn’t a particularly robust uptrend, but it is an uptrend, ride it until it drops.

This week one watch list stock is currently near a proper buy point. BIIB, trading at $227.76, has formed a 2nd stage cup with handle base with a potential buy point of $234.84.

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

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