Giving uptrend benefit of the doubt
Last week the market tested and held above key downside support levels at ~1230 on the S&P 500 and ~11,100 on the DJIA, maintaining its fragile three-week-old intermediate-term uptrend. For now, until/unless those levels are broken, the benefit of the doubt goes to the current positive trend.
New positions
No new positions were added this week.
Watchlists
The following stocks showed up on this week’s “upside strength” scans, suggesting that they may be headed higher and may represent good buying opportunities on weakness: HealthCare REIT (HCN), NTT DoCoMo (DCM), and Vector Group (VGR).
The following stocks showed up on this week’s “oversold” scans of beaten-down quality stocks, suggesting that likely further near-term weakness may represent a buying opportunity: AGL Resources (ATG), AT&T (T), CBS Corp. (CBS), Cemex (CX), Oneoke Partners LP (OKS), RPM International (RPM), Toyota Motor (TM), Unilever NV (UN), and Unilever PLC (UL).
