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Breakout: Cisco to lead Nasdaq to record

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Justin Sullivan | Getty Images

In last week's column I discussed the recent breakout from 10 weeks of investor indecision by the Nasdaq Composite Index and said it targeted an additional 4.5 percent rise to 5,050. The so-called comp has already gained 62 points, or 1.3 percent, in just the past week. So far, so good.

Meanwhile, a previous call that I made on a Nasdaq Composite constituent stock is reinforcing my outlook for the technology index.