Posted by markwes1 on 25th of Aug 2008 at 01:40 pm
Matt/Steve,
I've notice some nasty Bearish Divergence on the 60-min chart
and the 15-min chart stoch (60,3) is bearish. Should we look
to exit this position or do you see a return up in price?
markwes1- we are stopped out of FMCN, please see the Watch List,
over the weekend I added the following comments: As you can see,
move stops up to 30.5, it is below 30.5, so we are stopped out.
Remember that I write new comments above the charts pictures on the
Watch List about stops and targets (but again these are guild lines
and everyone is different). I edit the Watch List after the market
closes, not intra day.
Aug
24th:Continues to follow through light volume. Move stops up
to 30.5 and feel free to lock in some profits.
As a side note, personally we like
to take some profits on an initial pop to lower risk and ensure a
profit. Also in this tough environment where the market is very
whippy. FMCN broke out on light volume and that was another warning
sign.
One other observation on FMCN: looking at the watch list
completed trades for the past month or two, it looks like these
stocks with a pattern of horiz. resistance are not panning out
well. I don't know if it's the bear market or a random bad
stretch, but it is not a profitable pattern of late.
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FMCN - Port. Holding
Posted by markwes1 on 25th of Aug 2008 at 01:40 pm
Matt/Steve,
I've notice some nasty Bearish Divergence on the 60-min chart and the 15-min chart stoch (60,3) is bearish. Should we look to exit this position or do you see a return up in price?
markwes1 - we are stopped out
Posted by matt on 25th of Aug 2008 at 01:59 pm
markwes1 - we are stopped out of FMCN, please see the Watch List, over the weekend I added the following comments: As you can see, move stops up to 30.5, it is below 30.5, so we are stopped out. Remember that I write new comments above the charts pictures on the Watch List about stops and targets (but again these are guild lines and everyone is different). I edit the Watch List after the market closes, not intra day.
Aug 24th:Continues to follow through light volume. Move stops up to 30.5 and feel free to lock in some profits.
As a side note, personally we like to take some profits on an initial pop to lower risk and ensure a profit. Also in this tough environment where the market is very whippy. FMCN broke out on light volume and that was another warning sign.
FMCN
Posted by iufan20 on 25th of Aug 2008 at 02:21 pm
One other observation on FMCN: looking at the watch list completed trades for the past month or two, it looks like these stocks with a pattern of horiz. resistance are not panning out well. I don't know if it's the bear market or a random bad stretch, but it is not a profitable pattern of late.