shorting must be short term i feel. any company try to make a (bigger) profit each year, and therefore you are betting against them. the only reason you would short FMG for more than a day or two is due to you foreseeing significant weakness in the IO price. nothing else will result in a large decrease in SP. they don't have a weaker division (one trick pony has some upside), they haven't paid too much for an acquisition, and their P/E is still very low in comparison to the "blue chips" which they are striving to get to. if you think the stock was overbought on say friday, well then there might be weakness today. i really don't have the foggiest on charts, fibs, retraces, gaps etc. what i do know is FMG is currently making more money in a day than almost all of us will ever see in a lifetime....or three.
FMG Price at posting:
$6.02 Sentiment: LT Buy Disclosure: Held
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