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Focus Media Holding Ltd. Message Board

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  • paultradestoday paultradestoday Dec 23, 2009 9:31 AM Flag

    Personally, I think there will be a pullback

    From the chart....bearish 3 day activity but longer term bullish phase.

    See the following for a better description on reading the chart. But thats not all there is to it.

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    • Paul- I am not a short as you know...I am just saying that I think the move we just saw will be tested for validity as most are at some time or another. That said, I will tell you that I sold about half my position at 16.55 on the way up to lock in the price in hopes of buying back lower. I am not bashing, but I do have my opinion about a pullback otherwise I obviously wouldn't have sold. I see good times ahead for Focus and if I can't get my money back in at a level I want...I just will have to live with my decision of pulling half off...but happy that I didn't take it all Holidays. B

      • 1 Reply to b_hesford2000
      • Well B, I think you made a good decision at a good price. I have removed some of my position as well and replaced it with other China stocks. I had an oversized and uncomfortable position in FMCN and now that it is lighter, I feel better and I'm sure you do too. But, I still have a big investment with a few sell orders above 17.
        There have been a lot of new owners at prices above 15.24 which is the 20 day moving averageaverage. The support levels in stock guru reflect the recent overbought situation.
        The 4th Q will still have some consolidation and restructuring charges which will impact the bottom line; but I'm looking further ahead to the first half of 2010.
        There will be more of the ebb and flow as gamers try to make money in and out or can't wait more than a month. There will also be weak hands that bolt when the 4Q numbers are reported...BUT THEN ITS TO THE MOON.

        Good luck and happy Holidays. There are a few of you longs like you here that I enjoy hearing from. (by the way, I lived in Smithfield for 13 years)

    • Agree!