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April 12, 2006
Internet Stocks Cannot Hold Gains
Techs are holding up better than the broader market right now, but the Internet HOLDRS (HHH) looks poised to break flag support. The stock worked its way higher the last few weeks, formed a bearish engulfing on Friday and broke minor support at 57.8 yesterday. Further weakness below 57 would break the lower flag trendline and this would weigh on the Nasdaq.
Posted by Arthur B. Hill at April 12, 2006 07:14 AM