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Go Long PCX, Short SLXP

Patriot Coal should soar while Salix Pharmaceuticals stumbles


Futures continue to improve on the heels of what is looking like a breakout of recent consolidation for the market.

Below are the morning trade setups. For those who are still holding on to a lot of short positions, be very careful about letting a market that is on a technical breakout, continue to run against your positions.

Long: Patriot Coal Corporation (NYSE: PCX)

Short: Salix Pharmaceuticals, Ltd. (NASDAQ: SLXP)

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