QIHU (9/8/13, -1.88%)
SBUX (11/24/13, +0.14%)
Last week the major U.S. indexes ended mixed. The NASDAQ jumped 1.71%, the DJIA added 0.13%, the S&P 500 inched up 0.06%, and the NYSE Composite faded 0.27%. The IBD outlook remains at “confirmed uptrend”. The NASDAQ shed distribution, the S&P 500 picked up distribution, and the overall market distribution levels remain elevated. The economic news highlights for the upcoming week will be the second look at Q3 GDP on Thursday and November’s employment situation report on Friday. The ongoing rally has been treading water recently, searching for definitive direction, and could quickly make a significant move in either direction. Pay attention and be prepared for anything as normal trading resumes.
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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