FNHC--If I was holding overnight, I would fade the gap in the morning...This stock is extremely overbought, and the correction that is coming will be gut-wrenching...However, I plan to put FNHC in my popper pot with IATV, and play the secondary spike when the market makers cover their short positions, and the value hunters buy back in...That will make me my several points safely..Will let you know when I enter, but right now, stock is too hot for me to play, especially being only a part-time day trader...
If internet hysteria hits again tomorrow, the furthest I see this stock going is 20.90...
Pattern is 1 by 5...Original neckline at 5.00..Difference is 4...
Multiply extreme Fibonacci ratio of 4.236 by 4 and you get 16.94...Round off to 16.90..Add 16.90 to 4 and you get 20.90....
Now if I nail this one,(of course it will be a miracle), you can send me 2 Cuban cigars....
Regards, Mark
P.S. I was in this stock at 4 and out at 5.00..UG..did not like all those shares outstanding, but someone on the thread told me, "Mark, its the float that matters not shares outstanding"...The guy is probably getting ready to retire now as he takes his final profits tomorrow, while I hold out my cup for a few breadcrumbs... |
