Feb 4, 2005


Kla-Tencor (KLAC) is fast approaching the $49 area. Taking some off the table makes sense I imagine. Maybe Texas Instruments (TXN) can continue to pull the train but those are pretty big moves today and may need to consolidate.

General Electric (GE) might have a shot at a long side trade here. Has a nice base for a stop.

Also, I chucked some steel stocks off the ship as they have had a good run. Copper stocks are being pulled down by Phelps Dodge (PD) and US Steel (X) has flagging momentum at highs. Those thoughts and today's bond action makes me wonder if they can head higher.

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