Weekly Watch List


OCN (3/17/13, +27.89%)
EVR (6/23/13, +17.22%)
PRAA (9/25/13, -4.35%)
PKG (9/25/13, -2.82%)
BIIB (6/30/13, -1.01%)

Additions:
None

Subtractions:
None

Last week all the major U.S. indexes lost ground. The Dow slid 1.3%, the S&P 500 dropped 1.8%, the NASDAQ fell 1.9%, and the NYSE composite tanked 2.2%. The IBD outlook remains at “market in correction”. The highlight of the upcoming, holiday shortened week will be the August employment situation report on Friday but, good or bad, can this economic news cut through the suffocating overhang of domestic intragovernmental squabbling and geopolitical events? Along with the looming U.S. Government fiscal showdown, we can now add an incoherent and unpredictable U.S. foreign policy to the mix of investor worries. Until this uncertainty is cleared off the table, the only safe place to be is watching from the sidelines. If you must pick a bias, the potential near term market catalysts stack up decidedly to the downside. That said, the best strategy for now is to play defense, duck and cover.

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
NUAN
RVBD
TEX

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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