SBUX (11/24/13, +0.00%)
Last week the major U.S. indexes barely nudged ahead. The DJIA added 0.65%, the S&P 500 gained 0.36%, the NYSE Composite crept up 0.16%, and the NASDAQ inched forward 0.14%. The IBD outlook remains at “confirmed uptrend”. There was no new distribution added last week but the overall market distribution levels remain elevated. In the holiday shortened week ahead, expect to see low volume and volatility. Make sure you have an exit strategy in place in case the markets turn south when normal trading activity resumes. Continue to ride your winners and, although high quality stocks are mostly extended, keep looking for secondary entry points. Enjoy your Thanksgiving and be sure and count your blessings.
This week neither of the watch list stocks are near a proper buy point.
/as usual, your mileage may vary, always do your own homework
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