New Split Drops
|BRCD - Brocade Communications $203.56 -6.13 (-16.19)
It appears the pundits were right with their predictions that the market would sell off following a Gore concession. The resulting drop pushed Brocade below support and we were consequently stopped. Just a reminder, Brocade splits 2:1 on December 21st. We may still try and capture a split run if the stock can stabilize.
New Candidate Drops
|DHR - Danaher Corporation $62.81 -2.25 (-5.13)
Experiencing some noteworthy selling pressure the last few days, DHR shares continued to drop from their highs made earlier in the week. This major drop occurred on Wednesday, as the stock showed little resistance to its 5-day and 10-day moving averages. This may be an indication of future near-term weakness. Our tightened stop of $66.00 was well placed and helped us to avoid unnecessary losses. We'll keep a close watch on the future developments of Danaher.
New Momentum Drops
|UTX - United Technologies $71.19 -0.44 (-3.63)
United Technologies could not shake off the broad declines seen in the Dow. The last little surge of selling knocked UTX's shares below our stop today. If UTX can hold the support offered by the 50-DMA at $69.56, we may try and play this stock again because UTX still has one of the better long-term charts in the market.