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IDY - Dycom Industries - $86.50 +3.25 Leading consumer product conglomerate, Philip Morris gapped down on Wednesday following the Florida Supreme Court ruling that stated recounted ballots must be admitted through Sunday. This kept hopes of an Al Gore victory alive, which does not bode well for the tobacco stocks. On Friday, MO was taken down on news that Colombia accused MO of tax evasion and is now seeking a multimillion-dollar fine. Shares of MO hit an intra-day low of $35.38 on light volume during Friday's shortened session. From a technical perspective, MO has support at the November 15 intra-day low of $34.69 with additional support at $33.50, the November 6 intra-day low. Resistance has come in at the 5-dma, currently at $36.43, and then at $38, just above the November 21 intra-day high. We are looking for a bounce off of $34.69 or a move above $36.43 on midday volume greater than 4 million shares before we start new plays. Our stops remain steady at $33.
FARM - Farmer Brothers - $86.50 +3.25 Leading consumer product conglomerate, Philip Morris gapped down on Wednesday following the Florida Supreme Court ruling that stated recounted ballots must be admitted through Sunday. This kept hopes of an Al Gore victory alive, which does not bode well for the tobacco stocks. On Friday, MO was taken down on news that Colombia accused MO of tax evasion and is now seeking a multimillion-dollar fine. Shares of MO hit an intra-day low of $35.38 on light volume during Friday's shortened session. From a technical perspective, MO has support at the November 15 intra-day low of $34.69 with additional support at $33.50, the November 6 intra-day low. Resistance has come in at the 5-dma, currently at $36.43, and then at $38, just above the November 21 intra-day high. We are looking for a bounce off of $34.69 or a move above $36.43 on midday volume greater than 4 million shares before we start new plays. Our stops remain steady at $33.
ITWO - i2 Technologies, Inc. - $86.50 +3.25 Leading consumer product conglomerate, Philip Morris gapped down on Wednesday following the Florida Supreme Court ruling that stated recounted ballots must be admitted through Sunday. This kept hopes of an Al Gore victory alive, which does not bode well for the tobacco stocks. On Friday, MO was taken down on news that Colombia accused MO of tax evasion and is now seeking a multimillion-dollar fine. Shares of MO hit an intra-day low of $35.38 on light volume during Friday's shortened session. From a technical perspective, MO has support at the November 15 intra-day low of $34.69 with additional support at $33.50, the November 6 intra-day low. Resistance has come in at the 5-dma, currently at $36.43, and then at $38, just above the November 21 intra-day high. We are looking for a bounce off of $34.69 or a move above $36.43 on midday volume greater than 4 million shares before we start new plays. Our stops remain steady at $33.
CHCS - Chico's FAS Inc. - $86.50 +3.25 Leading consumer product conglomerate, Philip Morris gapped down on Wednesday following the Florida Supreme Court ruling that stated recounted ballots must be admitted through Sunday. This kept hopes of an Al Gore victory alive, which does not bode well for the tobacco stocks. On Friday, MO was taken down on news that Colombia accused MO of tax evasion and is now seeking a multimillion-dollar fine. Shares of MO hit an intra-day low of $35.38 on light volume during Friday's shortened session. From a technical perspective, MO has support at the November 15 intra-day low of $34.69 with additional support at $33.50, the November 6 intra-day low. Resistance has come in at the 5-dma, currently at $36.43, and then at $38, just above the November 21 intra-day high. We are looking for a bounce off of $34.69 or a move above $36.43 on midday volume greater than 4 million shares before we start new plays. Our stops remain steady at $33.
BRCD - Brocade Communications - $86.50 +3.25 Leading consumer product conglomerate, Philip Morris gapped down on Wednesday following the Florida Supreme Court ruling that stated recounted ballots must be admitted through Sunday. This kept hopes of an Al Gore victory alive, which does not bode well for the tobacco stocks. On Friday, MO was taken down on news that Colombia accused MO of tax evasion and is now seeking a multimillion-dollar fine. Shares of MO hit an intra-day low of $35.38 on light volume during Friday's shortened session. From a technical perspective, MO has support at the November 15 intra-day low of $34.69 with additional support at $33.50, the November 6 intra-day low. Resistance has come in at the 5-dma, currently at $36.43, and then at $38, just above the November 21 intra-day high. We are looking for a bounce off of $34.69 or a move above $36.43 on midday volume greater than 4 million shares before we start new plays. Our stops remain steady at $33.
WIND - Wind River Systems - $86.50 +3.25 Leading consumer product conglomerate, Philip Morris gapped down on Wednesday following the Florida Supreme Court ruling that stated recounted ballots must be admitted through Sunday. This kept hopes of an Al Gore victory alive, which does not bode well for the tobacco stocks. On Friday, MO was taken down on news that Colombia accused MO of tax evasion and is now seeking a multimillion-dollar fine. Shares of MO hit an intra-day low of $35.38 on light volume during Friday's shortened session. From a technical perspective, MO has support at the November 15 intra-day low of $34.69 with additional support at $33.50, the November 6 intra-day low. Resistance has come in at the 5-dma, currently at $36.43, and then at $38, just above the November 21 intra-day high. We are looking for a bounce off of $34.69 or a move above $36.43 on midday volume greater than 4 million shares before we start new plays. Our stops remain steady at $33.
AGN - Allergan, Inc. - $86.50 +3.25 Leading consumer product conglomerate, Philip Morris gapped down on Wednesday following the Florida Supreme Court ruling that stated recounted ballots must be admitted through Sunday. This kept hopes of an Al Gore victory alive, which does not bode well for the tobacco stocks. On Friday, MO was taken down on news that Colombia accused MO of tax evasion and is now seeking a multimillion-dollar fine. Shares of MO hit an intra-day low of $35.38 on light volume during Friday's shortened session. From a technical perspective, MO has support at the November 15 intra-day low of $34.69 with additional support at $33.50, the November 6 intra-day low. Resistance has come in at the 5-dma, currently at $36.43, and then at $38, just above the November 21 intra-day high. We are looking for a bounce off of $34.69 or a move above $36.43 on midday volume greater than 4 million shares before we start new plays. Our stops remain steady at $33.
CB - The Chubb Corporation - $86.50 +3.25 Leading consumer product conglomerate, Philip Morris gapped down on Wednesday following the Florida Supreme Court ruling that stated recounted ballots must be admitted through Sunday. This kept hopes of an Al Gore victory alive, which does not bode well for the tobacco stocks. On Friday, MO was taken down on news that Colombia accused MO of tax evasion and is now seeking a multimillion-dollar fine. Shares of MO hit an intra-day low of $35.38 on light volume during Friday's shortened session. From a technical perspective, MO has support at the November 15 intra-day low of $34.69 with additional support at $33.50, the November 6 intra-day low. Resistance has come in at the 5-dma, currently at $36.43, and then at $38, just above the November 21 intra-day high. We are looking for a bounce off of $34.69 or a move above $36.43 on midday volume greater than 4 million shares before we start new plays. Our stops remain steady at $33.
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