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February 09, 2006
Cisco Powers the Internet Architecture HOLDRS (IAH) higher
Led by a big move in Cisco, the Internet Architecture HOLDRS (IAH) stole the show yesterday. The stock broke resistance in November and returned to broken resistance in late October and early February. Broken resistance turned into support and the stock gapped higher yesterday. This gap solidifies support and opens the door to further strength above 38. This gap better hold and a move below 35 would be most bearish.
Posted by Arthur B. Hill at February 9, 2006 07:21 AM