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Thursday, April 28, 2011

REDF looks ready for a pullback

I've been following REDF for about a year now. It's an Indian internet stock that has a very good long-term outlook. It's basically an Indian version of Groupon. Only 10 million Indians have access to the internet, I say "only" because India has a population of over a billion so the potential growth for this company is astronomical. I've followed this stock when it was only $2.00, it went as high as $18.00! A topping tail is indicative of a pullback.

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