Mom & Pop, howver, can afford to sit out this dance because in the event the Bear returns " and it will " you will be able to buy your 100 share positions cheaper.

I dropped 3M from the Cara Global Best 100 Companies list on June 25. The price of MMM at the time was about 80. About six sessions later the stock fell out of bed. Ka-ching " except that the Cara 100 list is not a stock deal; it's a watch list of the best quality companies.

3M is a very good quality company. I moved it off the Cara 100 (and into the non-existing Cara 250) until I get a handle on the successor of CEO James McNerney, who jumped to Boeing (NYSE: BA). I jumped with McNerney out of the respect I have for that person.

But 3M is still a terrific company, as I say.

Today, UBS research issued a report worth reading. The Value Line report ought to be read as well, although it's dated (the next one out is August 18). Download UBS July 26 3M report.

Here are the Monthly, Weekly, Daily and Hourly charts for MMM. The Monthly data Relative Strength Index technical indicator will likely drop below 30 in a couple days.

That puts the stock squarely into the Cara Accumulation Zone. Institutional investors can nibble here and probably buy a little more in the weeks and months ahead. With the low PE and other supporting reasons, I don't think MMM is going to drop in price much more from here.

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3M [GICS 20, Dow 30, Cara 250] [removed from Cara 100 on June 25]
(MMM: Yahoo Finance file)
(MMM: StockChart chart)
(MMM: Investertech chart)
(MMM: ADVFN Financial Data)
(MMM: ADVFN Financial Data)
(MMM: Value Line Report May 19: next one is due Aug. 18)

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