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16 Stocks That Are Breaking Down

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October 04, 2010 – Comments (1) | RELATED TICKERS: ESV , DBA , NE

There are some bearish divergences out there indicating that this market could reverse course and allow for us to see a pullback of sorts in the very near future. While I don't rule that out, I think the odds are we move higher, and I have positioned my portfolio accordingly. Below you will find  a handful of stocks that are showing signs of, or already in the process of, breaking down as the smart money appears to be leaving them in a subtle manner. There are stocks trading at its peak and finally showing some vulnerability, while on the other extreme, there are stocks that have been in a channel near or at their lows, before finally breaking down below those lows.

I'd keep an eye on Ensco (ESV). It still has a solid upward trend, but it is testing support, and if it breaks, you would have on your hands a nice short setup with an appealing risk/reward setup. 

Here are the 16 Stocks Breaking Down.

1 Comments – Post Your Own

#1) On October 04, 2010 at 9:34 PM, topsecret10 (22.02) wrote:

 Your going to see the entire market breaking down real soon. Many small caps are already getting hammered...  TS

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