Jul 302012

After two big up trend days, today’s volatility shrank severly.  The bulls tried to run price again above Friday’s high early, but the run was short lived.  Failure to take out new highs after the initial stop run and breakout led to the second part of today’s example trade.  The first part came earlier as it looked like the Friday high area was going to hold.  Institutions were selling all morning.  The stop run breakout also caught most of DTG’s stops.

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