3M (MMM) shares of the diversified conglomerate are seeing relative strength with rotations a big factor and the stock closed strong near highs on Wednesday in a nasty market selloff. MMM has cleared its monthly value area this week and looks poised for new highs above 105 which could target the first Fibonacci extension at 108.50. MMM is a top yielding industrial still with a 5.8% dividend that is becoming more attractive to income investors as the risk free rate starts to fall with the move in yields lower. Recent buyers of 2000 August 9^th $107 calls at $2.57 still holding in open interest and earnings not due till 7/26.