Agree on MRK and JNJ very short term, but intermediate and longer term, these two should be reentered on good pull backs. As for CCMP, I am still playing it very carefully and milking half buckers to a bucker in the down channel, but I think that something is intrinsically wrong with it, and it will see the sub $25, maybe even sub $20 in the next six months, particularly if we don't get your (and mine <g>)turn date soon. Sure on strong bounce here (and recently the RSI reached extremes at sub 20%), it could attempt a run to the bottom of the gap ($35) which will be a very nice "play", but don't expect much more from it in the next few months. The tactics is simple, reenter with a stop under the recent low, but I would wait until the early commotion Monday is over, since a new low before a bounce is probably more likely.
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