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Wednesday, October 10, 2007

UP 5% IN 4 DAYS!



That was the move so far from last Thursday's 290 bottom and successful retest of the August low. We are now above the 34 day moving average which is bullish. The 200 day moving average is sitting about a point above us. Needless to say we've made up a ton of ground in a short period of time




Two keys technically will be getting that 34 day moving average above the 200 day moving average. We're not there yet. And second will be what happens as we near the 308-310 level. We need a close above 308.99 with followthrough to confirm that we have broken out of the bottom base..otherwise we remain in a tight 20 point trading range between 290 and 310.

This morning we have some news as Atlas Pipeline Partners registers lots of shares for holders who may be selling from time to time. No link provided so far. Otherwise no news. Bear Sterns cuts General Marine (GMR) to peer perform from outperform.

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