QIHU (9/8/13, +4.07%)
GNRC (10/27/13, -5.57%)
Last week the major U.S. indexes finished narrowly mixed. The DJIA added 0.29%, the S&P 500 inched up 0.11%, the NYSE Composite faded 0.36%, and the NASDAQ gave up 0.54%. The IBD outlook remains at “confirmed uptrend”. The NASDAQ and S&P 500 added more distribution days and, although the distribution is not yet significant, the current uptrend, so far, lacks any discernible institutional buying conviction. This week the economic news highlights will be the first look at Q3 GDP on Thursday and the October employment situation report on Friday. Most leading stocks are still extended from proper buy points. Keep your watch lists updated and continue searching for new breakouts and scanning for secondary buy points. If the uptrend isn’t giving you anything to buy at the moment, be patient and wait for solid opportunities to present themselves. Don’t violate your investing discipline just for the sake of “getting in” the market.
This week QIHU is not near a proper buy point.
/as usual, your mileage may vary, always do your own homework
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