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08/27/2008

MER Ready for a Rise?

Phew, not a very good day for the bears! Ouch!

I'm not too shaken up by the charts I am seeing, but I will note, as I did yesterday, that some of the financials may have been battered enough to mount a rally. MER in particular, based on the retracements, looks enticing. I'm not going to act on it, but I wanted to share the chart.

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