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We are seeing some profit-taking in hot sectors like biotech today, which is entirely to be expected after the group’s recent run. To continue with a main theme of my posts over the past few weeks, I am looking to see if other stocks and sectors are setting up behind the leaders and seeing inflows, which would obviously be bullish. The casual dining space is one area that keeps setting up, as are the paper pays.
Wasau Paper is seeing a highly favorable reaction by the market to earnings, but it is not the only paper-related firm looking good. To begin with, Wasau’s daily chart looks much better than a mere one-day pop, as it is set up well technically, as you can see below. Beyond that, other paper plays, like Boise, look like they are building tight bases here after their recent advances. Here are some other ideas:
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