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All,
I don't have much time, but did want to let everyone know that I
decided to go with a midweek pick after the Fed lowered rates again
today. I wanted to overweight in the financial/banking sector. I
couldn't fine any small caps that really stuck out. so I decided to go
with a large cap industry leader - Chase Manhatten (CMB). CMB had a
strong bounce up off the bottom of its Short Term Up Trend Channel
(STUTC) today. I broke out of its down trend in early Oct, gave an
RSquared, S/C, MFI buy signal in late Oct, and pulled back to the
bottom of its STUTC last week. I expect a run to at least its 52 week
high at 77 1/2 and the odds even favor a breakout with the Fed's
action. I'll open a position in the morning and set the stop just
under the STUTC at 57 3/4. I'll send a chart to everyone on the email
list.
JimG
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