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Thursday, January 5, 2012

ZUMZ

I waited all day for ZUMZ to get above resistance, and it finally did, meaning I bought it way over not only yesterday's close, but today's open as well. While it seems counter intuitive, it is more likely that this will continue higher now that it is above resistance. I also, however, see how tempting it will be to take profits for a lot of traders after a big move like this, so I will give it a pretty wide stop for now. I am not thrilled wth the weak price relative line, but there aren't many breakouts today with strong ones.

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