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Friday, November 19, 2010

WLT

WLT formed a base starting in March of this year, which is a very long base, but with a very short handle. It's hard to say whether or not that is a real flaw, but it did make a nice move on high volume, coming on reports it is trying to buy out another coal company.  Price relative has been on the rise here since June, and thius took the August market swoon as an opportunity to form a short base, and has not been in a serious sell off since then.  It is kind of plodding along, but is showing tremendous strength here.

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