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| PLAY >New Drops |
Tuesday, December 05, 2000 |
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New Split Drops
No New Split Drops
New Candidate Drops
| ADP - Automatic Data Processing $65.31 +0.13 (+0.37) |
The share price of ADP slipped just below our stop price, forcing us out of this play. ADP's stock had been exhibiting some outstanding relative strength, but a small correction, which consolidated recent gains, was just a little too enthusiastic. Still, the longer-term technical picture for ADP remains solid, so we may try this play again in the near future.
| CTAS - Cintas Corporation $49.94 +1.00 (+0.06) |
A Merrill Lynch downgrade on CTAS from "near-term accumulate" to "near-term neutral" sent shares lower during Monday's session. A sharp gap down at the open caused our stop to be hit at $48.50, but the stock did manage to give us a few opportunities to capture profits ahead of the selling. Advancing through stiff resistance at $50, the stock did provide us with gains on two separate runs near $52.75.
| THC - Tenet Healthcare $40.81 -1.44 (-0.44) |
After making a strong advance above the intermediate high of $43, and an attempt at the $45 mark, THC's quick intra-day fall to $39.44 closed our position at the $39.50 stop. Falling as a group, several stocks within the health care sector experienced sharp declines and could be near a short-term top. Additionally, with fewer uncertainties in the presidential election, it wouldn't be too surprising to see the sector give back some of its recent gains. With this in mind, we believe that other sectors will offer better results over the short-term.
New Momentum Drops
No New Momentum Drops
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