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Three Growth Stocks Still Worth a Look

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Even as we live through the massive uncertainties of the looming fiscal cliff, US, Chinese, and Japanese elections, Europe's debt crisis and unrest in the Middle East, there are still a few safe harbors for growth notes.

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Until we see broad strength return to the market, it's wise to invest more cautiously. It also means maintaining a watch list, so that when market conditions improve, you won't be caught throwing darts to decide what to buy.

Amazon (NASDAQ:AMZN) reported another mixed quarterly report (revenues were up a strong 27%, but it reported its first loss in years), although the stock found some good-volume support.

We remain believers in this retail story and the firm's Kindle lineup, and we advise sitting tight with your remaining shares.

While it's had its share of ups and downs, eBay (NASDAQ:EBAY) has traded in a 10% range during the past six-plus weeks ($46 to $51). [For comparison, the 52-week range is $28.50 to $51.78.]

Combined with a huge, positive volume clue on earnings, it seems that a proper launching pad is forming as institutions use the market's correction to build positions.

The firm announced that its PayPal unit will cut about 3% of its workforce to simplify and speed up product development, which is something that should help keep it ahead of the competition.

If you combine a terrible market for growth stocks with some bad communications around earnings, you get the wild action we've seen at IAC Corp. (NASDAQ:IACI).

Frankly, the weekly chart looks poor, but we're willing to give shares a little rope to see whether last week was a brief shakeout or a major top. Fundamentally, the quarterly report was great and earnings estimates kited higher (now up to $3.78 next year, up 34% from 2012).

Editor's Note: This article was written by Mike Cintolo of Cabot Market Letter.

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