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Let's call it a consolidation rather than a distribution day, because the Nasdaq shed just 3 points on slightly higher volume. It was another day where good setups were hard to come by. Tech sectors were mixed so some are starting to bounce including disk drive, hardware and the SOX. The NDX winners were CDWC, TLAB, LNCR and the losers were SEPR, GILD and YHOO.
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