The market and many stocks had a bad last week, no doubt about it—instead of slowly fading, the selling pressures have increased of late as earnings season begins in earnest. We can’t say we’re seeing a rash of breakdowns, but enough selling has occurred that we’re moving our Market Monitor into the neutral camp. A shift back in a week or two is possible if earnings season unfolds bullishly, but for now, we recommend limiting your new buying to smaller positions (maybe half or two-thirds of what you’d usually buy) and consider some names that could trend on their own (like precious metals names, for instance). You should, however, still try to hold onto shares of your most resilient performers, giving them a chance to re-emerge.
This week’s list has a few tempting growth stocks, as well as some turnaround plays that are doing well. But we’ll stick with the precious metals group, which has consolidated nicely after bolting higher last month.
Allied Nevada Gold (ANV) is one of many that looks like it wants to head higher, bolstered by the price of gold and higher output.
| Stock Name | Price | Buy Range | Loss Limit |
|---|
| ANV (ANV) | 0.00 | 38-40 | - |
| AOL, Inc. (AOL) | 0.00 | 34-37 | - |
| Barclays (BCS) | 0.00 | 14-15 | - |
| CTRX (CTRX) | 0.00 | 48-50 | - |
| DVA (DVA) | 0.00 | 104-108 | - |
| Eagle Materials Inc. (EXP) | 0.00 | 45.5-47 | - |
| AG (AG) | 0.00 | 21.5-22.5 | - |
| Google Inc. (GOOG) | 0.00 | 720-735 | - |
| Rackspace (RAX) | 0.00 | 64-66.5 | - |
| Royal Caribbean Cruises (RCL) | 0.00 | 29.5-31 | - |