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Friday, June 22, 2007

NVEC

This was featured today in IBD's "New America" section. Whether that had any bearing on today's action is not known. This is another type of setup I really like. It started an earnings acceleration phase in February, gapped up again in early May, then pulled backed, filling in the gap perfectly and taking off again. CMF was showing a bit oversold. There shouldn't be any real resistance until 36.50-37.00. A nice surge in volume should take that out.

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