A. Geiche,
Relax my friend, Slider is Slider, he has paid his membership dues like the rest of us and any chat savvy reader here has their own responsibility to do poster "DD". Neophytes will learn the hard way as we all did to some degree. As one who has posted here on SD to being very long FGI, I thought it would be appropriate to repost my reply to you from Yahoo here:
ageiche,
FGI is in the process of putting in the right shoulder of an inverse H&S formation. Personally, I was hoping that with the release of merger news
and the ending of the quiet period that we would be spared going down to the levels of the left shoulder, 9 7/8 to 10. Unfortunately, due to the
recent events and continuation of the quiet period with its uncertainties and the Bullsh*t Bullseye on a defenseless FGI, it appears that we will not
be spared the indiginity of revisiting 10. If down momentum maintains it is likely we will exceed this target to the downside. I believe I posted on
this board awhile ago the possibility of a spike down. Gary does very well with his EWaves, but except for his analysis I do not put much faith in them.
The inverse H&S and base that FGI is putting in is a powerful formation. Providing that the general market does not cr*p and take OSX with it,
this formation would forecast, IMHO, a substantial increase in price which should approach levels of the formation measurement 6-10 months
out.
All please note this is **IMHO** = "In My Humble Opinion"
BTW, I was shocked, as a long time reader of Sliders posts, by his reply to Finance 65 post about Rowe at IR. I found it very "illuminating".
OTOH, I don't really mind the short term shorts, they are the ones that will supply the gas on any takeoff for FGI. Even though I am a bit too long
with FGI, at the appropriate time (hopefully), I will be reducing my cash basis by adding on. **IMHO**, it will be an excellent buying op for a
LT investor and the closer it gets to 8 the greater my eventual upside!
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Best Regards,
Roebear |
