"Goodmorning...Another good day for the market Thursday, and in line with our expectations of it marching higher towards the descending trendline. The S&P 500 is about 10 points away from testing that trendline, and the odds will certainly favor profit-taking from there, given our assumptions. The big picture remains favorable in our view in terms of the fundamentals of the economy, and ultimately we believe the primary trend remains up.
Momentum Service
Friday, May 28, 2004
Your new stock pick this morning is Intermune (Nasdaq:ITMN) with a target of $16.00 and a stop-loss at $13.75. ITMN is very oversold and looks ready to spring higher from these levels...good risk/reward with a tight stop/loss.
***Updated Picks:
Sco Group (Nasdaq:SCOX)
Picked: May 26, 2004
Target: $7.00
Stop/Loss: $4.65
Recent Close: $5.49 (+$.09)
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