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Thursday, February 4, 2010

AIPC

Today waas not kind to breakouts, but the one that held up was AIPC, which is a growth stock that seems to do best during periods of market weakness. This is probably a doble bottom base, which would have made the buy point when it gapped over the 200dma back in November. The current strength is likely to continue if the market goes into an extended correction. ATR dropped to a 6 month low just before the breakout, a sign that price was cosolidating and weak holders were being shaken out.

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