Friday, October 4, 2013

Friday's Outcomes: CSCO, MRO

CSCO has been on the shelf since Sept. 30 and broke through its 20-day price channel on Thursday. It stayed high much of the day but fell below the breakout level late in the day. I have opened a bear position. See "CSCO: Bearish on the bones of the 'Net" for my analysis.

MRO broke above its confirmation level shortly before 1 p.m. and rose more than 60 cents further before peaking. It stayed well above confirmation the rest of the day. See my analysis, "MRO: A bear in the oil patch".

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