DislikedFDO exited @ break even , stock not acting right for four days in a row since entry {image}Ignored
This is a strong shorting candidate given the recently bearish action on the monthly. The 2nd and 4th quarters of 2012 were quite bearish as well, while the 3rd was at best neutral. My plan for trading stocks like these, whether up or down, is to find setups like these on the longer term charts, i.e., monthly and quarterly, bet half on the break and if/when it retraces against the candle I am trading off of, I watch the weekly and daily candles for a good spot to bet my second half. If it does not retrace then I only go half. If it doesn't break right away, but retraces instead, then I will wait for an entry signal within the main candle, but on the weekly and daily charts. That's entry.
FDO should go down to at least $55, though I think $50 is a good bet.