Last week was shaping up to be another chop-fest but the market took off on Thursday and Friday ... and for the first time, we saw some leading stocks rally and, importantly, build on those gains. (In recent weeks stocks were quickly sold after any strength.) It’s a good ray of light, though we haven’t seen enough power from the market and from potential leaders to switch our Market Monitor out of its neutral stance; we’re a bit more optimistic than last week but still need to see more bullish evidence before we put on our bullish hats. For now, then, stick with the strategy of buying on weakness, keeping some cash on the sidelines and watching your stops.
The good news is that last week’s action brought more stocks to the fore; we’re seeing many more good-looking launching pads, and we saw more breakouts on earnings, many of which are showcased in this week’s list. Our favorite of the group is
IAC Corp. (IACI), a conglomerate of Internet businesses that has been in a steady uptrend for years and just blasted off on earnings last week.
| Stock Name | Price | Buy Range | Loss Limit |
|---|
| 3D Systems (DDD) | 0.00 | 36-38 | - |
| Align Technology (ALGN) | 316.20 | 33-35 | - |
| Equinix, Inc. (EQIX) | 547.73 | 175-181 | - |
| IACI (IACI) | 0.00 | 51-53 | - |
| NetSuite, Inc. (N) | 0.00 | 54.5-56.5 | - |
| Regeneron Pharmaceuticals (REGN) | 512.96 | 132-136 | - |
| SolarWinds (SWI) | 0.00 | 48-52 | - |
| Under Armour (UA) | 0.00 | 52-54 | - |
| WPI (WPI) | 0.00 | 77-79 | - |
| Western Digital Corporation (WDC) | 0.00 | 37-40 | - |