Wednesday, June 22, 2011

FSIN-Second Chance Short

This is why I closed out half of my short position in FSIN

I shorted and so did other members at the target area we were looking for-$7.20, it took a little patience, but we made it there and were handsomely rewarded in the trade. FSIN is bouncing on very weak volume, I'm not sure if it can make it past resistance around $6.50, but I would consider looking at this as a short position or add to around the $6.50 area, if it can make it a bit higher, all the better. There's a lot of potential downside in FSIN so keep it on your watchlist and set a price alert for $6.50 or so to take a look at it in the area. I can see this one trading down to $2 and maybe less, it's a huge multi-year top.

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