Buy General Mills? Yawn.

090923gisOrdinarily you look at action like this from yesterday’s hot stocks and you see a buy signal.

A clearly defined horizontal line.  A big breakout.  Clear buy signal.

But then you look at the big picture.

090923gis2Who wants to commit capital for a possible gain of 6 or 7 points?  In the present economic climate we consider it highly unlikely that GIS could take out its old high and make the trade worthwhile.

We need a little more grist than that for our mills.

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