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No. of Recommendations: 6
And another question -

For this year, seems like we would sell HWP and IP because they aren't 2002 picks.

And for HD and MSFT - what? Sell them because they've reached their upside target? Continue to hold until they *do* reach the upside target? (For that matter, what *was* their upside target 'way back on 1/1/2001?)

Sell them to start with a clean slate and put the proceeds into more AA since that's the only 2002 pick?

You need to be careful with AA. Since AA's last report Value Line issued a supplemental lowering this years and next years earning forecast. They have changed their forecast for the 4th quarter from .35 cents a share to $.10 and next years earnings from $2.30 to $2.00.

Being this is all the data they gave it is hard to say whether AA still meets the earnings bogey. Also usually when the forecast goes down the ROE and/or Book Value also get lowered when the next issue comes out.

Therefore in my opinion it is very questionable if Alcoa is really a legitimate pick and we won't know for sure until the next issue because at this time Value Line has basically warned that the forecasted information for the company is wrong.

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