select Drop-Down List item Based On Text Field not being empty

Hi. I have some javascript code to click on a button and it will insert the date into a text box called "Controller_PDF_Creation_Doc_Control_Date" on my form. I also have a drop down menu called "Release_Approval_Initials". All I'm trying to do is when there is a date entered into the text box, I want the "Release_Approval_Initials" drop down menu to default by selecting the option "TM". The drop down menu is dynamically populated too. How can I do this? Below is the code that I have.

<SCRIPT LANGUAGE="JavaScript">

    function verify() {

        var partNumber = '';

        var ecoNumber = '';

        var pdfDate;

        var queue;

        var queueValue='';

        var allArray = document.getElementById('listofids').value.split(",");

        var error=false;

        for(var i=0;i<allArray.length;i++) {

            pdfDate = document.getElementById('Controller_PDF_Creation_Doc_Control_Date'+allArray).value;

             <!--- document.getElementById('Controller_PDF_Creation_Doc_Control_Date1').value='8/19/11'; --->

            queue = document.getElementById('Release_Approval_Initials'+allArray);

            queueValue = queue[queue.selectedIndex].value;

            if((pdfDate != '' && queueValue == '') || (pdfDate == '' && queueValue != '')) {

                error=true;

                ecoNumber = document.getElementById('ECID'+allArray).value;

                partNumber = document.getElementById('Part_Number'+allArray).value;

                alert("You must enter both a PDF Creation and/or Doc Control approval date and Queue to Release for ECO " + ecoNumber + " Part Number: " + partNumber);

            }

        }

        if(error) {

            return false;

        }

        else {

            return true;

        }

    }

</script>

<cfinput type="Text" name="Controller_PDF_Creation_Doc_Control_Date#ItemID#" id="Controller_PDF_Creation_Doc_Control_Date#ItemID#" value="#DateFormat(Controller_PDF_Creation_Doc_Control_Date,"M/D/YY")#" size="12" maxlength="8" validate="date" required="no" message="You must enter a valid date in M/D/YY format in the PDF Creation and/or Doc Control Date field">

<cfinput type="hidden" name="today_date" id="today_date" value="#DateFormat(now(),"M/D/YY")#" />

<input type= "button" value="Today's Date" onclick="document.getElementById('Controller_PDF_Creation_Doc_Control_Date#ItemID#').value=document.getElementById('today_date').value">

<select name="Release_Approval_Initials#ItemID#" id="Release_Approval_Initials#ItemID#">

                <option value=""></option>

                <cfloop query="ShowDataEntryInitials">

                    <option value="#Initials#"

                    <cfif Initials EQ ReleaseInitials>selected

                    </cfif>>#Initials#</option>

                </cfloop>

            </select>

Any help would be greatly appreciated. Thank you.

Andy