Wednesday, June 8, 2011

FSIN post on May 3rd was a follow up to the original idea in which we were looking for a dead cat bounce to $7.20.

 Here was the May 3rd follow up post, when we FSIN crossed 47.20-our target area for a short position. Since then, over the last 7 days, FSIN has declined nearly -22%.

However, if you missed the trade, I'd keep an eye out for any bit of strength in FSIN. This is the weekly chart and a massive top. There's a lot more potential downside in this trade so you really didn't miss the bus.

Based on the top pattern and measuring implications, FSIN could be trading near $1

As for our backtested trade system in the miners, it's produced a gain now over the last 3 days of nearly 13%!
Again, you didn't miss the boat. This is a trading system (long/short), there will be other signals.

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