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The Chartman

Ringing in the New Year With Oversold Stocks

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On the recent Follow the Money 2012 special, I made a few picks I thought would do well this year. And at least for a couple of them, so far, so good. Before I get to those, however, let’s look at the solid start the Dow has had.

As you can see, I think there’s still some room to run, and 12700 seems reasonable in the next few weeks.

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As for the picks, two of my favorites were Netflix (NASDAQ:NFLX) and Bank of America (NYSE:BAC). Both fall into my “I use ‘em” vein, and had the additional benefit of being deeply oversold.

BofA was a bit riskier, but again: as long as my local branch stays open, I figure they’re fine as long as I’m patient!

Next week, I’ll take a look at a few more of my 2012 selections.

What do you think?

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