The Growth Stock Landscape

The shockwaves of a potential government default could easily carry over to stocks. But so far, the market really hasn’t had too much of a reaction, and we’re more inclined to think that once resolved it all won’t mean much for companies and their earnings.

The truth in trend will become more apparent in coming weeks.

Bottom Line: We still need to consider this environment “high risk.” It would be wise to avoid doing anything until this all passes.

Growth Stocks, as a group, are showing contradicting behavior new highs are matched well with failed breakouts.

Super stud Apple (AAPL) keeps the trend alive with follow through on its stellar earnings beat last week.

We also have Baidu (BIDU) breaking out to a new high.

But, it’s the collapses like the one in Ancestry.com (ACOM) that threatens a new tone for the chart symphony that is Growth Stocks.

Meanwhile, names like Changeyou.com (CYOU) and MWI Veterinary Supply (MWIV) attempt launches from bases.

Other fast movers not on our screens, though worth watching are Alexion Pharmaceuticals (ALXN) and Yandex (YNDX).

On the IPO front, Linkedin (LNKD) is giving us a classic base.

Silver is another worth keeping an eye on as it etches out what might turn into the early formation of a base. The ETF Proshares Ultra Silver (AGQ) offers a leveraged way to play it.

Stay tuned,

Dan

thegrowthstockreport.com