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All,
Standard Pacific Corp (SPF) broke out of a triple top to a new
all time high on good volume today. I've been watching this one for a
long time. It's in a long and intermediate term up trend although it
has moved sideways for the last six months. It started the current up
move about a month ago and broke the triple top on good volume today.
I constructed a new Short Term Up trend Channel (STUTC) with a top at
21 and a bottom at 17 1/2. I'm going to take a long position at
tomorrow's open. I want the STUTC to develop better before setting a
target, but will set the stop just under it at 16 3/4.
Jim
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