Weekly Watch List


QIHU (9/8/13, -4.54%)

Additions:
None

Subtractions:
None

Last week the major U.S. indexes ended mixed. The DJIA tacked on 0.94%, the S&P 500 gained 0.51%, the NYSE Composite added 0.14%, and the NASDAQ faded 0.07%. The NASDAQ and S&P 500 both racked up additional distribution and after Wednesday’s significant downdraft on higher volume, the IBD outlook slipped to “uptrend under pressure”. Down days are coming on higher volume and up days are coming on lower volume, exactly the opposite of what Bulls want to see. For now, it’s best to avoid making new purchases and start lightening up on your long exposure. Consider booking some profits, even small ones. Above all, don’t let any gains turn into losses and don’t take a loss of more than 7-8% on any position.

This week QIHU is not near a proper buy point.

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

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

Advertisements

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out / Change )

Twitter picture

You are commenting using your Twitter account. Log Out / Change )

Facebook photo

You are commenting using your Facebook account. Log Out / Change )

Google+ photo

You are commenting using your Google+ account. Log Out / Change )

Connecting to %s

%d bloggers like this: