we may consider a new long position in MS for bucket 2.
banks remain underowned and overshorted and as a relative outperformer we like a few select names going into end of November should the performance anxiety hit.
right now the stock is still at the 50 day moving average and at the 50% retracement of the recent rally. on a strong close near its high for the day we would initiate a small bucket 2 long.
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