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I remember when a number of firms were upgrading the stock to a strong buy when it was trading at 60. The stock price went down every since. Now that a couple of firms have downgraded the stock from a buy to a hold that might be a good contrarian indicator. Since it had been trading at a pe of 8 (before the latest earnings revision) it appears the market didn't believe the $4+ forecast. The market was right. However, it appears all the bad news may be priced into the stock. A pickup in the economy could raise earnings estimates going forward. Also, because of the cancelled projects a dividend increase is more likely now. The price held the 32 support level for the third time. I'm no technician but I believe that's considered a positive.

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