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Friday, October 29, 2010


Well, this is a leading stock, and it did report good earnings, got a big gap up, and pretty good volume, but the chart really doesn't impress me. ATR was rising before the breakout, price relative is not very strong, CMF is declining (although that's not necessarily bad), and it never formed a handle. It came well off the high of the day at the close, and is a prime candidate for a failed breakout. Of course, it could take off from here just as easily, but for my money this is a low probability trade.

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