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Thursday, July 29, 2010

a recurring theme

On the heels of a previous post...Short setups in RIMM and FCX
First, we have an established range with S/R which will give us potential targets on the breakdown move (also worth noting, the overhead Supply in this case is an earnings miss gap down):We get a few bounces off of support, only to see buying interest wane before the breakdown:
Same situation in FCX

How fast the tide turned:RIMM ended the day in a long-legged doji after tagging it's 50-SMA

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