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David A.
user 7150946
Augusta, GA
'Since three out of four stocks follow the general market trend, it’s best not to try and swim against the tide if the market is in a downtrend.'
Smith, Amy

CSRA IBD Investors it is that time of the week for our weekly stock checkup !! The current market outlook is 'Uptrend Under Pressure'. This has changed from 'Confirmed Uptrend' as of Friday May 31 as all of the indexes closed down on above average volume which is a clear sign of institutional selling. The 'Uptrend Under Pressure' signal is similar to yellow light which is to proceed with caution and if you are sitting a gain you may even consider taking profits if your stock is displaying technical weakness. So far the indexes seem extended and may IBD 50 leaders are extended so entering in new positions right now is risky !!
While it seems many stocks and indexes are to extended I would advise to continue or start building a watchlist if the indexes for some reason bounce back. While many of the IBD 50 leaders are to extended there are still a few good deals out there and lets be patient and make sure to wait until the next 'Confirmed Uptrend' signal before diving back in the market. Also IBD's Matthew Galgani has a new book to be released titled 'How to Make Money in Stocks: A Guide to Putting CAN-SLIM Concepts into Action' I am sure this book will be similar to Amy Smith's book filled with clear examples and simple explanations of the CAN-SLIM principles.
We will have our June Meetup on Saturday June 29, 2013 @ Columbia Columbia Library from 12:00 - 2:00 p.m. I am excited and looking forward to this meetup so we find and discuss the next big winner's to lead the next market rally. I wish everyone the best of luck investing this week and remember to stay flexible and open minded !!
David Avery, JR.
Organizer
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Augusta, GA

Founded Apr 12, 2009

Organizers:

Investor's Business Daily, David Avery, greg brown, Jen, Michael Owens, Rhoda Allen
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