The Aristocrats(tm): Market Dogs Message Board

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Strategies & Market Trends : The Aristocrats(tm): Market Dogs

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To: sense who wrote (11)	1/26/2012 2:11:32 PM
From: sense	of 30

FTR making the new lows today with a vicious move down... Glad I didn't pull the trigger on it yesterday... but, still would have left the room early if I had, so no worries... Given the repeated failure to hold support... I think the right chart to look at on FTR now is the 10 year weekly... Look at the pattern that shows you for the last half of 2011... and that is one remarkably straight line... The "price target indicators" I use to try to pick bottoms... don't work all that well in a stock that doesn't actually have a trading dynamic... and that straight line pattern ends up having those "bottom alert" targets sliding down the hill right along with the stock price... Each day and each week it looks like "this is the bottom"... and the next day and the next week... you're still right there... with that pattern sliding down the chart right along with the price. I hardly expect that is coincidence... So, for now... it's a falling knife trade... Look at a 2 or 3 minute daily chart. By 10:30 this morning, the chart was showing you $4.47 as a downside target... and it hit that by 12:30.. Good trading... if you have the nerves for it... but, not what I'm looking for as a potential to include in a Market Dogs portfolio... Just interesting for Market Dogs to watch it, at this point...

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