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Thursday, October 13, 2011

MG

MG is fairly typical of what is going on in the market right now: wild, swinging price moves forming faulty bases. ATR has been rising since this initially broke out in August, and unless you bought the original breakout, you probably would have been stopped out of this by now. The price relative line is also choppy, and CMF is in a long term decline. I suspect the only ones in this are momentum chasers and computers.

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