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Recently, I posted a query on the MetaStock-list relating to sponsorship.
That is, it seems that stocks recommended by the better known investment
banking firms like Morgan, Bear Sterns, Goldman, etc. seem to move up nicely
over time.
The sponsorship rationale being that you and I can not move markets alone but
these firms can and do it with pinnace.
This AM before the market opened, CNBC reported that Morgan Stanley raised
the rating on GRA (W.R.Grace) to a strong buy based on a dinner meeting last
night and an analyst meeting all day today. GRA closed yesterday at 59 1/8
and has a nice looking chart, i.e., a recent breakout above previous highs
for the last two years and on higher volume in the last 8-10 days. With that
I stepped up to the plate and placed an order for 500 shares at the market.
It filled at 59 3/8. Time will tell.
Jim Barone
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