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Wednesday, November 11, 2009

Macy's Third Quarter Loss

While smaller than a year ago, investors still hammered the stock this morning with a significant gap lower to the 50 day moving average on huge volume. The 3C charts that follow will demonstrate that through various configurations of the indicator and various timeframes, there were negative divergences or distribution present in all. So you think smart money isn't aware of the news before hand? It appears hey were selling in the weeks leading up to today.


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