Tuesday, September 12, 2006

Telecom hits new highs

After testing its 40-week moving average during the summer months, Telecom HOLDRS (AMEX:TTH) is back on track. It's ralling point was almost two months ago when it surged from $29 to $31, but the current high is breaking as a resistance point. Consumer stocks in general are doing well, but a strong move by telecom stocks should be a very good sign. TTH closed today at $32.40, as its performance continues to best the market.
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