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Friday, December 19, 2008

MAXY


This hit a 52 week high of 8.94 in December of 2007, went into a hellacious down trend, which it reversed this October, and today it closed at a new high by one penny. Unfortunately, when it wasn't hitting new highs, moves like this rarely show up in my scans. Now it is very extended, almost double the 200dma. It would be wise here to either wait for a pullback, or wait for it to roll over and go short.

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