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Jeff Pierce
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I’m a swing trader of momentum stocks with a holding period of anywhere from a few hours to a few months. I run a number of screens to locate the strongest/weakest stocks out there, using technical analysis to determine my entries and exits. Trying to calculate the intrinsic value of stocks in... More
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  • Multiutilities At Channel Support 0 comments
    Aug 22, 2012 1:02 PM | about stocks: DUK, AEE

    Back in July I noticed the strength in this sector and thought it would be a buy on a decent pullback. I believe that pullback is here and a couple stocks I like in this sector are DUK and AEE. Watch the RSI 40 level to provide support. It could dip down a few points below 40, especially intraday, but this area provides a good reward/risk trade in a stable sector.

    With the markets screaming higher and the Dow touching the 2012 highs, a pullback could be in short order and these stocks below should also serve as defensive stocks and rise should the markets correct at all. As for now any correction should be bought in the general markets, as I don't see any reason to suspect this is going to turn into anything to nasty.

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    Stocks: DUK, AEE
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