As I have said on my previous post. If you are out already, probably a good idea to stay out, as you can't sit infront of a computer all day. FMG is up there now (from the gap up yesterday). If some how today, she can close above the $4.25~27 mark, may have another crack for a rebound tomorrow, but if she can't, I would think wait for a few days, wait for the candlestick formation to form then decide, by next Wednesday, we should know what is going on. In my portfolio, I have only 20% of my money on long term stock, 80% of them are just trade. My trading style is very short term, I like trading reversal base on candlestick pattern. But some times if I am confident, then I will let a stock sit there for maybe up to a week.
But since you don't have time to sit infront of a computer all day, I think long term/swing trade is better for you. Miss money is always better than losing money. A pull back for FMG is inevitable, if you are already in-front and you are out, better to buy next week. See if FMG can hold above this 250days line, if she can, then you can go long. The higher they go the harder they fall, vice-versa. However if you are tempted to get in, wait until the moment of truth 15mins which is 3:45pm.
And the most important thing for today is, FMG cannot fall below the 50% middle mark of yesterday's long white body candlestick, if so, it will look very bearish for next trading day.
Not an advice, just my humble opinion, dyor and read the disclaimer.
FMG Price at posting:
$4.20 Sentiment: None Disclosure: Held
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