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Wednesday, May 2, 2012

LULU

I;m not sure why LULU broke out today, but it got higher than average volume and made a big move on a day that was relatively weak in the overall market. It had a strong resistance level at the projected target of roughly 77, and once it broke through that it took off. Usually I would expect a gap up over resistance, but this actually gapped down slightly today. Thjis is very likely now going to be in the process of establishing a new trading range.

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