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Thursday, September 9, 2010

IGTE




IGTE hit a new high on prettty good volume, but pulled back sharply and failed to break out. There was a clue that there was a problem here with the price relative line not getting out to a new high. ATR is pretty high, indicating the the recent price consolidation was not a real shakeout, and there wasn't much accumulation going on. We will have to watch this one tomorrow to see if it gets any follow through, but it does appear it needs sme more base building here.

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