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Monday, April 16, 2012

DDD

DDD was just about the nicest looking breakout today. It is unusual in that on a gap up, the top of the gap marks a pivot point, but here the obvious pivot point is at the previous breakout point. The volume pattern here is not very good, and CMF went sharply negative due to heavy selling on high volume up days (notice that there are several closes near the low pf the day's range). Despite all that the price relative line does not look half bad, and it might have a decent chance of hitting the target I have projected for it.

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