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Thursday, August 16, 2012

PETM

With a big day in the market, you would expect a lot of really good breakouts, but we didn't get any. Now, PETM here isn't bad, but it has some weaknesses that tell me to stay clear for a while. The gap up was nice, volume was ok, but the price realtive line isw weak, and CMF was dropping going into today, and today's dreaded black candle won't help that at all. This might continue to go up, but I would be waiting for some confirmation before getting into this.

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