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The following is a list of top ten stocks where BlackRock Investment Management LLC is increasing its positions:

Stock

Symbol

Shares Held - 06/30/2011

Shares Held - 09/30/2011

Change in shares

Chevron Corp.

CVX

8563592

9320585

756993

Exxon Mobil Corp.

XOM

16181039

16964797

783758

Marathon Oil Corporation

MRO

5990624

8265261

2274637

Accenture Plc

ACN

1223393

2113398

890005

Lyondellbasell Industries NV

LYB

510070

2339163

1829093

Marathon Petroleum Corporation

MPC

0

1555569

1555569

Applied Materials Inc.

AMAT

5040737

8920570

3879833

Activision Blizzard Inc.

ATVI

3993359

7357869

3364510

Walgreen Co.

WAG

2774331

3954063

1179732

Dell Inc.

DELL

8451001

11065712

2614711

Source: 13F filing

I believe Chevron presents an excellent long opportunity among the above stocks. Chevron’s stock price has underperformed its peer Exxon Mobil after the recent news on Chevron’s Brazilian oil spill. The stock is down 1.5% since November 10 when the news was first out. This compared to a 4% gain in Exxon's stock price during the same period. Given that the spill is estimated at 2,400 Bbls (well below 0.1% of Macondo), this underperformance clearly is an overreaction by the investors and would eventually correct in the next couple of weeks causing the upside in Chevron’s stock.

Accenture also appears to be an interesting buy among above list. Accenture is gaining market share in the IT industry due to its strong domain expertise, industry-leading technical and consulting capabilities, and strong onsite presence. Clients continue to focus on vendor consolidation and are building strategic vendor relationships with IT services firms that have a wide breadth of offerings. ACN with its presence across industry verticals and service lines is well placed to increase its share especially in the key accounts. Going forward three specific technologies: mobility, cloud and analytics are likely to cause a good upside in the business. Each of these technologies has potential to become billion dollar businesses and Accenture is well positioned to capitalize on these trends as the largest agnostic technology solutions provider in the world.

Two stocks where I don’t agree with BlackRock and would like to avoid are Walgreen and Dell. Walgreen is expected to be adversely affected from its ongoing dispute with Express Scripts (NASDAQ:ESRX). It recently mentioned in its monthly sales releases that the dispute with ESRX is negatively affecting its sales. With no resolution in the site in near term I remain bearish on Walgreen. On the other hand, CVS Caremark (NYSE:CVS) is all set to benefit at the cost of Walgreen and hence provide much better risk reward if one wants to go long on in the space. Dell is another stock, I am bearish on despite of its undemanding valuations. Dell’s core PC consumer business is facing a secular headwind from increasing adoption of tablets. Although Dell is trying to focus on higher margin IT Services, software and data centre businesses it lacks presence and technological expertise when we compare it with other companies in the space.

Source: Analyzing 10 Big Buys Of BlackRock