Jan 18, 2005

Hit 'em Where They Ain't

Today's strength (unlike my positions) lies in the banks and biotechs. I am somewhat surprised this rally isn't drawing in more participation. Maybe the market is just a bit skittish in front of all the earnings on tap.

I don't see too much going on that is worth a comment. FCX, a stock I mentioned the other day, is having a nice day after its earnings and keeping the suspense alive by staying within a pennant formation. The precious metal companies seem strong in spite of the strong dollar. My only involvement today was a stop loss in MMM.

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