Wednesday, June 1, 2011

FSIN Short Trade Follow Up

The original idea was on May 25 , but I wanted to see a better entry price, we got that the next day and over the last few days. Yesterday morning I commented on what was a near perfect entry in FSIN

And here's what we have, still a viable short trade and we may even get a little relief for better prices, but I've posted on this one several times, I would think if you liked the trade you'd probably be in it by now.

 Today's daily breaking support of a multi-year top in a Chinese company, which is what turned me on to FSIN in the first place with all the Chinese Frauds.

 Here's yesterday's opening false breakout -a nice signal in itself

However, taken with this 5 min 3C chart, you can see distribution into the false breakout, an ideal set up and timely.

There's still plenty of downside in FSIN, this is a long term trade.

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