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Falling Knife

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February 10, 2011 – Comments (0)

CSCO is what we call a falling knife stock today by declining more than 10.0 percent on the session and trading at fresh new lows on the day. This stock is under severe selling pressure. However, the $19.00 area is a very attractive area for a small intra-day scalp bounce. Should the overall market remain weak and decline further the weak stocks such as CSCO could trade lower.

 

Nicholas Santiago
InTheMoneyStocks.com

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